Ferrovial has formalized the commercial closure with the Tennessee Department of Transportation (TDOT) for the development of the express lanes of I-24 Southeast in Nashville, a project for which the company had already been chosen on August 20.
In a statement, Ferrovial has emphasized that this step represents a "milestone" by establishing the contractual framework of an initiative that entails the largest public investment undertaken by the state of Tennessee and, at the same time, the first public-private collaboration in its history.
According to what was agreed, the DriveTN consortium, led by Ferrovial, will be responsible for financing, designing, constructing, operating, and maintaining these lanes through a 50-year concession, which will begin once they are opened to traffic.
In August 2026, TDOT selected the DriveTN consortium, which also includes Transurban and Tikehau Star Infra, to execute this project.
The plan, called I-24 Southeast Choice Lanes, includes the addition of new lanes in both directions along approximately 42 kilometers of I-24, between Nashville and Murfreesboro. These express lanes are designed to provide more predictable travel times, even during peak congestion hours, and to also optimize traffic flow in the general use lanes.
Along with improving mobility, it is expected that the action will favor economic growth in the area, boost job creation and new opportunities for local businesses, help strengthen local communities, and generate lasting value that supports the development and prosperity of the region in the long term.