Ferrovial scoops €3bn US highway concession
Ferrovial has been named as the preferred proposer for the Transform 66 highway project in the US state of Virginia.
Ferrovial subsidiary Cintra, in consortium with infrastructure fund Meridiam, has been chosen by the Virginia Department of Transportation for the contract, which is worth over €3bn (£2.5bn). The consortium headed by Cintra will design, build, finance, operate and maintain the 35km concession on the I-66 highway. Construction is scheduled to be completed in 2022 and the concession will run for 50 years. A consortium headed by Ferrovial Agroman will handle the design and construction of the project.
The team had been shortlisted in October 2015 (link opens in new tab).
With three regular lanes and two managed lanes in each direction, the new section of highway is designed to expand capacity, improve mobility and enhance safety, as interchanges will also be upgraded to reduce congestion. The project also envisages new and expanded transit service and park-and-ride lots, with direct on- and off-ramps from the managed lanes.
Financial close is expected next summer. Construction is scheduled to be completed by 2022, and the concession runs for 50 years.
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This article was published on 4 Nov 2016 (last updated on 4 Nov 2016).