Ferrovial to lead $9.2 billion I-24 express lane project in Tennessee

I-24 Southeast Choice Lanes public-private partnership infrastructure investment Nashville transportation project

Ferrovial has been selected to lead the development of the I-24 Southeast Choice Lanes in Tennessee, marking the largest private investment and the first public-private partnership in the state's history. The project, valued at $9.2 billion, will involve the construction of 26 miles of express lanes in both directions between Nashville and Murfreesboro.

The Ferrovial-led consortium, known as DriveTN, includes partners Transurban and Tikehau Star Infra. The group is responsible for financing, designing, building, operating, and maintaining the infrastructure. The project is expected to provide a projected $24.8 billion in concession value to the state.

Designed to alleviate congestion along a major corridor extending from I-40 east of downtown Nashville to I-840 near Murfreesboro, the lanes aim to provide reliable travel times for users while reducing traffic for those in general-purpose lanes. This model follows similar express lane implementations in other U.S. metropolitan areas such as Dallas-Fort Worth, Charlotte, and Washington, D.C.