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Ferrovial clinches $910m US road deal

Category: General / 13 August 2019

6 hours Ferrovial has reached financial close on a US$910m (£755m) contract to build and operate an extension to a highway in Texas, USA.

The project consortium, which is led by Ferrovial’s toll road subsidiary Cintra Infraestructuras, will build and operate the ‘segment 3C’ extension to the North Tarrant Express. Ferrovial Agroman will be in charge of design and construction. The consortium, NTE Mobility Partners Segments 3, also includes the Meridiam fund and APG, a specialised pension fund management firm.

The contract involves an 11 km stretch, running from Heritage Trace Parkway, north of US 81/287, to Eagle Parkway, in Denton County. Existing lanes will be upgraded and will continue to be toll-free, while two tolled ‘managed lanes’ will be built in each direction, as well as on-ramps.

Construction will start immediately and the road is expected to be open to traffic by the end of 2023. The concession contract will run until 2061.

The project is the fourth managed lanes project to be operated by Cintra in the Dallas-Fort Worth area, one fastest-growing areas of the United States. The company already operates the LBJ Express, the North Tarrant Express (NTE) and NTE 35W, which is an extension of the NTE (segments 3A and 3B).

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