Ferrovial-led consortium DriveTN has been chosen to finance, design, build, operate and maintain the I-24 Southeast Choice Lanes project in Tennessee, US.
The $9.2bn scheme will add choice lanes along a 26-mile stretch of Interstate 24 between Nashville and Murfreesboro, one of the region’s most heavily congested corridors.
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The DriveTN team, which also includes Transurban and Tikehau Star Infra, was selected by the Tennessee Department of Transportation (TDOT) under a competitive procurement process.
Following approval by the state’s Transportation Modernization Board, TDOT will work with DriveTN and the US Department of Transportation’s Build America Bureau to finalise an agreement intended to protect state interests and secure the proposed value.
According to project documents, DriveTN’s proposal offers a projected $24.8bn in concession value to Tennessee, which may be used to fund additional infrastructure projects in other parts of the state.
Under the plan, new optional choice lanes will be constructed in each direction along approximately 26 miles of I-24, while the existing free general-purpose lanes will remain.
The project aims to give drivers a more reliable, faster route while reducing congestion in the main lanes for those who stay there.
Announcing the selection, Tennessee governor Bill Lee described the project as a milestone for his administration’s approach to managing growth and traffic.
Lee said: “Through the Transportation Modernization Act, we chose to embrace innovation and private sector partnership while responsibly stewarding taxpayer dollars.
“Today, that vision is delivering extraordinary value for Tennesseans that will deliver a transformational Choice Lanes project and strengthen our infrastructure for generations to come.”
State officials described the project as the largest single capital investment and first public-private partnership (P3) of its kind in Tennessee’s history.
Ferrovial CEO Ignacio Madridejos said: “We are honoured to be selected to deliver this landmark transportation project for Tennessee, which will enhance mobility and support the state’s continued economic success.
“As communities across the US continue to grow, innovative infrastructure investment is essential to meeting future transportation needs. We look forward to delivering a project that improves connectivity and creates value for decades to come.”
As part of the process, DriveTN committed to minimising impacts on neighbouring communities, with adjustments to avoid certain properties and provide enhanced access and connectivity, as well as park-and-ride facilities and provisions for future transit integration.
In June, Ferrovial secured a $1.08bn contract from the US Army Corps of Engineers to expand and strengthen part of the Río Piedras channel in San Juan, Puerto Rico.
