Ferrovial selected to deliver Tennessee's I-24 Choice Lanes

• The project represents the largest private investment in the state's history, bringing essential infrastructure to the growing Nashville region

AMSTERDAM, Aug. 19, 2026 /PRNewswire/ -- Ferrovial, a leading global infrastructure company, today announced it has been selected to deliver Tennessee's I-24 Southeast Choice Lanes in Nashville, the largest single capital investment and first public-private partnership in Tennessee's history.

"We are honored to be selected to deliver this landmark transportation project for Tennessee, which will enhance mobility and support the state's continued economic success," said Ignacio Madridejos, Ferrovial CEO. "As communities across the U.S. 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."

The 26-mile project will add choice lanes in both directions along I-24 between Nashville and Murfreesboro, improving mobility along one of the region's most congested corridors. The Ferrovial-led consortium, DriveTN, which includes Transurban and Tikehau Star Infra, will finance, design, build, operate and maintain the $9.2 billion project, while providing a projected $24.8 billion in concession value to Tennessee.

The I-24 Southeast Choice Lanes project will provide a cost-effective transportation solution offering reliable travel times along a key corridor extending from I-40 east of downtown Nashville to I-840 near Murfreesboro. Drivers who choose to use the lanes will benefit from more consistent travel speeds, even during peak periods, while those remaining in the free general-purpose lanes will also experience reduced congestion.

Ferrovial has successfully replicated this model in other growing U.S. metropolitan areas, including Dallas-Fort Worth, Charlotte and Washington, D.C. On Virginia's 66 Express Outside the Beltway corridor, similar express lanes have reduced peak travel times by as much as 50 percent while providing reliable trip conditions. By bringing that experience to Tennessee, the project will deliver lasting mobility benefits and support continued growth across the region.

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About Ferrovial  
Ferrovial is a leading global infrastructure company transforming highways, airports, and energy around the world. Its distinctive integrated business model supports the entire lifecycle of complex projects, from design and financing to construction, operation and maintenance. The company has a global presence and employs more than 22,500 people worldwide. North America is Ferrovial's growth engine, where it developed and is currently operating five Express Lanes across Texas, North Carolina and Virginia, and is managing the 407 ETR highway in Toronto, Canada. The company is also leading the development of the New Terminal One at JFK International Airport. Ferrovial shares trade under the ticker symbol FER on three stock markets: U.S. (Nasdaq100 Index), Spain (IBEX35), and the Netherlands. The company is included in globally recognized sustainability indices such as the Dow Jones Best-in-Class Index.

Forward-looking statements
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SOURCE Ferrovial