Ferrovial has reached a commercial and financial agreement with the Tennessee Department of Transportation (TDOT) for the I-24 Southeast Choice Lanes project. The project represents the largest single capital investment in Tennessee's history.
The project will be Tennessee's first public-private partnership. The Ferrovial-led DriveTN consortium will finance, design, build, operate, and maintain the new lanes.
The project will add 26 miles of toll lanes in each direction along the congested I-24 corridor between Nashville and Murfreesboro. The 50-year concession will begin when the lanes open to traffic.
The project aims to improve travel-time reliability and ease congestion in one of the region's fastest-growing areas.