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Investment in the scheme to extend the North Tarrant Express (NTE) is estimated at US$1.38bn (£917m). The concession will run for 43 years from the date the road opens to traffic, expected in mid-2018.
The project is in the Dallas/Fort Worth area, which is the fifth-largest metropolitan area in the United States and one of the fastest-growing regions in the country.
The Cintra-led consortium, NTE Mobility Partners Segments 3, also involves Meridiam Infrastructure & Dallas Police and Fire Pension System.
The project includes segments 3A and 3B of the highway, with a total length of 16.3km, as well as the interchange between the I-35W and the IH-820.
Cintra will be responsible for the development of segment 3A, which will be undertaken by Ferrovial Agroman and Webber, as well as its operation and maintenance. The Texas Department of Transportation will build segment 3B and Cintra will be responsible for its operation, maintenance and tolling.
Ferrovial Agroman and Webber will undertake design and construction once financial closure is reached. The Cintra-led consortium will upgrade the existing lanes, which will be toll-free, and build two additional managed lanes each way which will use electronic tolling. The consortium will also handle operation and maintenance of the entire road.
"This is the sixth contract that Cintra has headed in the US,"said Enrique Díaz-Rato, CEO of Cintra. "It confirms our strong position in North America, where we have landed three new projects worth US$3.85bn in the last year."
With this project, the fourth in Texas to be headed by Cintra, the company's managed investment in the state amounts to over US7.4bn.
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