Ferrovial Selected to Deliver $9.2 Billion I-24 Southeast Choice Lanes Project in Tennessee
Ferrovial, a global infrastructure company, has been selected to deliver Tennessee’s I-24 Southeast Choice Lanes project in Nashville, a major transportation investment that is expected to transform mobility along one of the region’s busiest highway corridors.
The project represents the largest single capital investment and first public-private partnership in Tennessee’s history, highlighting the state’s growing focus on innovative approaches to infrastructure development and transportation investment.
The 26-mile project will introduce new choice lanes in both directions along Interstate 24 between Nashville and Murfreesboro. The development is intended to improve travel reliability, reduce congestion, and provide additional capacity along a corridor that serves rapidly growing communities and supports significant economic activity across the region.
Ignacio Madridejos, CEO of Ferrovial, said the company was honored to be selected for the landmark project and emphasized its potential to improve mobility and support Tennessee’s continued economic growth.
“As communities across the U.S. continue to grow, innovative infrastructure investment is essential to meeting future transportation needs,” Madridejos said. He added that Ferrovial looks forward to delivering a project that improves connectivity and creates value for decades to come.
Major Investment in Tennessee Infrastructure
The I-24 Southeast Choice Lanes project is valued at $9.2 billion and will be delivered through a public-private partnership.
Ferrovial will lead a consortium known as DriveTN, which includes infrastructure investment and transportation partners Transurban and Tikehau Star Infra.
Under the agreement, the consortium will be responsible for financing, designing, constructing, operating, and maintaining the project. The partnership structure is intended to combine private-sector investment and expertise with public transportation objectives to deliver long-term infrastructure improvements.
The project is also expected to provide an estimated $24.8 billion in concession value to Tennessee, creating a substantial long-term economic and infrastructure benefit for the state.
The scale of the investment reflects the importance of the I-24 corridor to the Nashville metropolitan area and surrounding communities. Population and economic growth have increased pressure on existing transportation infrastructure, making additional capacity and more reliable travel increasingly important.
Improving Mobility Along I-24
The I-24 Southeast Choice Lanes will extend from I-40 east of downtown Nashville to I-840 near Murfreesboro, covering approximately 26 miles.
The corridor is one of the region’s most congested transportation routes, particularly during peak commuting periods. The addition of choice lanes is designed to provide motorists with an alternative travel option while improving overall traffic conditions across the corridor.
Drivers who choose to use the new lanes are expected to benefit from more predictable travel times and consistent speeds, including during periods of heavy traffic.
At the same time, motorists who remain in the existing free general-purpose lanes are also expected to benefit from reduced congestion as traffic is distributed across additional capacity.
The project therefore aims to provide benefits to both choice-lane users and drivers who continue to use the general-purpose lanes.
Supporting Regional Economic Growth
Reliable transportation infrastructure plays an important role in supporting economic development. Efficient connections between Nashville, Murfreesboro, and surrounding communities can help residents reach employment centers, businesses access customers and suppliers, and goods move more efficiently throughout the region.
The I-24 corridor is particularly important because of its connection to major employment, residential, commercial, and industrial areas.
By increasing capacity and improving travel reliability, the Choice Lanes project is expected to support the continued growth of communities along the corridor.
The development could also generate significant economic activity during the construction phase, creating opportunities for contractors, suppliers, engineering companies, and other businesses involved in the delivery of major infrastructure projects.
Ferrovial’s U.S. Experience
Ferrovial brings significant experience in delivering managed and express lane infrastructure across major U.S. metropolitan areas.
The company has previously worked on projects in rapidly growing regions including Dallas-Fort Worth, Charlotte, and Washington, D.C., where transportation demand has increased alongside population and economic growth.
One example is Virginia’s 66 Express Outside the Beltway corridor. Similar express lane infrastructure has been used to improve travel reliability and provide additional transportation capacity in a highly congested metropolitan region.
According to Ferrovial, travel times during peak periods on the Virginia corridor have been reduced by as much as 50 percent while providing more reliable journey conditions.
The company intends to apply lessons from these projects to the I-24 Southeast Choice Lanes development in Tennessee.
A New Model for Transportation Investment
The project is significant not only because of its size but also because of its delivery model. As Tennessee’s first public-private partnership of this scale, it could establish a new approach to financing and delivering major transportation infrastructure within the state.
Public-private partnerships can allow governments to leverage private investment, technical expertise, and long-term operational capabilities while maintaining public oversight and transportation objectives.
For Tennessee, the I-24 project represents an opportunity to address a major infrastructure challenge while supporting future mobility needs.
For Ferrovial and its DriveTN partners, the project further expands their presence in the U.S. transportation infrastructure market and demonstrates the growing role of public-private investment in addressing congestion and capacity challenges.
The I-24 Southeast Choice Lanes project is expected to become a major component of Tennessee’s future transportation network.
By adding choice lanes in both directions along a 26-mile stretch of I-24, the project aims to provide motorists with more reliable travel options while helping relieve congestion on existing lanes.
Its combination of large-scale private investment, public infrastructure priorities, and long-term operations makes the project an important milestone for Tennessee’s transportation sector.
As Nashville and surrounding communities continue to grow, transportation demand is expected to increase. The I-24 Southeast Choice Lanes project is designed to respond to that demand by improving connectivity, expanding capacity, and providing more predictable travel conditions.
With Ferrovial leading the DriveTN consortium alongside Transurban and Tikehau Star Infra, Tennessee is moving forward with one of the most significant transportation infrastructure investments in its history.
The project is ultimately intended to deliver long-term mobility improvements, strengthen regional connectivity, and support the economic growth of Nashville, Murfreesboro, and communities throughout the wider Tennessee region.
Source Link:https://newsroom.ferrovial.com/
