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Ferrovial closes deal for $648m highway

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A consortium led by Ferrovial subsidiary Cintra Infraestructuras has achieved financial closure for a US$648m (£415m) highway project in the US state of North Carolina.

The project is for the Interstate 77 in Charlotte, North Carolina. North Carolina Department of Transportation (NCDOT) had selected the bid presented by the I-77 Mobility Partners consortium in March 2014. The 41km-long concession will last for 50 years from the date it opens to traffic, scheduled for 2018.

Cintra will develop the project, while the design and construction will be undertaken by a joint venture comprising Ferrovial Agroman and US construction company WC English.

he scheme includes widening 41.3km of highway in both directions on the I-77 in the northern part of the Charlotte metropolitan area. Work is divided into three sections, and the existing road will be rebuilt, increasing its capacity by creating managed lanes, with variable electronic tolls, to improve traffic flow. This is Cintra’s fourth managed lanes project in the USA.

 

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