Ferrovial

Ferrovial has announced that it has secured commercial closure with the North Carolina Department of Transportation (NCDOT) for Interstate 77 (I-77) in the US.

The project requires an estimated investment of $655m and includes design, construction, financing, operation and maintenance of the I-77 in North Carolina.

The 50-year concession period starts from the date the infrastructure opens to traffic.

Ferrovial’s subsidiary Cintra will develop the project, with the design and construction to be carried out by a joint venture comprising Ferrovial Agroman and US construction company W C English.

"The initiative will improve traffic conditions, while strengthening opportunities for economic development and local employment."

The project is divided into three sections and includes the reconstruction of the existing road, which will increase its capacity by creating managed lanes that will ease traffic flow.

According to Ferrovial, the initiative will improve traffic conditions, while strengthening opportunities for economic development and local employment.

Cintra is a developer of transportation infrastructure and currently manages 2,180km of toll roads in 27 concessions in Canada, Europe and the US.

Image: North Carolina I-77 Project. Photo: courtesy of Ferrovial.