The team - which is part of Ferrovial's Services business - is using additive manufacturing techniques to make the masks.
The company has also been working on a project to turn a Madrid exhibition centre into a field hospital.
Ferrovial is drawing on existing collaborative links with other companies, technology centres and universities in developing the masks.
It said that, once the relevant authorisations pass, it will be able to supply 300 to 400 masks a day by printing in collaboration with various companies.
Staff members have also been involved in turning Feria de Madrid exhibition centre into a field hospital to fight Covid-19. The company worked with the Unidad Militar de Emergencias to install 5,500 beds in record time.