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Ferrovial's I-24 Southeast Choice Lanes Project in Tennessee

On September 30, 2026, Ferrovial, a prominent name in global infrastructure, declared its successful commercial close with the Tennessee Department of Transportation (TDOT) for the ambitious I-24 Southeast Choice Lanes initiative. This significant development establishes the groundwork for one of the most transformative transportation projects in Tennessee's history, marking the largest single capital investment and the first public-private partnership (PPP) ever undertaken in the state.

The project will introduce new choice lanes for a 26-mile stretch of I-24, linking the vibrant city of Nashville to Murfreesboro. These lanes are set to revolutionize travel times by ensuring reliability, especially during heavy traffic periods. As a result, they will not only improve the overall flow of vehicles but also offer much-needed relief to the general-purpose lanes which often suffer from congestion.

Ferrovial leads the DriveTN consortium selected for this pivotal project, which includes notable partners such as Transurban and Tikehau Star Infra. According to the agreement, the consortium will oversee the financing, design, construction, operation, and maintenance of the lanes over a 50-year concession, which will commence once the lanes are opened to traffic.

Beyond boosting mobility, the I-24 Southeast Choice Lanes project is also anticipated to spur economic development in the region. With improved transportation infrastructure, the initiative is expected to facilitate job creation and provide new opportunities for local businesses. This, in turn, will help strengthen local communities, providing a lasting impact that contributes to the region's ongoing prosperity and growth.

In recent years, Tennessee has emerged as a rapidly expanding region in the United States, and investments like the I-24 project are crucial for accommodating this growth. The U.S. Census Bureau and the Bureau of Economic Analysis affirm that sectors linked to transportation are fundamental to sustaining economic development. Ferrovial’s involvement in this project reaffirms its commitment to contributing to innovative infrastructure solutions that reflect high standards of sustainability and community service.

About Ferrovial

Operating at the forefront of the infrastructure sector, Ferrovial is renowned for its innovative practices in developing highways, airports, and energy solutions worldwide. The company’s robust business model encompasses every phase of complex project lifecycles, from initial design and financing to construction, operation, and maintenance.
With a workforce exceeding 22,500 employees across the globe, Ferrovial places a strong emphasis on expanding its footprint in North America. The company currently manages several Express Lanes in regions such as Texas, North Carolina, and Virginia, while also leading the development of New Terminal One at JFK International Airport in New York.
Ferrovial continues to gain recognition for its sustainability efforts, being listed in esteemed sustainability indices like the Dow Jones Best-in-Class Index. The company’s shares are traded under the ticker symbol FER across both the Nasdaq exchange in the U.S. and the Spanish Stock Exchange (IBEX 35).

As Ferrovial progresses with the I-24 Southeast Choice Lanes project, its vision of promoting enhanced mobility and economic resilience within Tennessee is coming closer to reality, paving the way for a brighter future in infrastructure development.

Future Outlook

This initiative highlights a crucial turning point not only for Tennessee's infrastructure but potentially sets a precedent for future public-private partnerships across the country. With forward-looking investments in transport networks, Ferrovial aims to contribute significantly to the economic landscape while fostering sustainable growth that serves communities well into the future.