Public-Private Partnership (P3)

What is a Public-Private Partnership (P3)? 

A public-private partnership, also known as PPP or P3, is a long-term agreement between the public sector and private entities focused on collaborating to deliver solutions with a common goal in mind. These partnerships are often used to finance, build and manage large infrastructure assets, like toll roads, highways, bridges and airports.  

How P3s Work

Public-private partnership contracts begin with a clear structure that defines the roles and responsibilities of each party.  

Generally, private partners provide the upfront capital investment and lend their project management expertise to accelerate timelines and streamline the construction process. Once the asset is delivered, the private partner continues to operate and optimize the asset for growing capacity needs, helping to maintain performance, enhance the user experience and deliver long-term value throughout the lifecycle of the infrastructure. 

In the meantime, the public sector retains oversight to ensure that the project continually meets expectations and serves the best interests of their communities.  

Benefits of P3

• Faster Delivery: P3s typically move more quickly than publicly funded projects thanks to private-sector efficiencies.
• Smarter infrastructure: Private companies bring new technologies and innovative approaches that often streamline construction and improve long-term sustainability.
• Reallocation of public funds: Since the private partner invests equity in developing these projects, public funds can be allocated to address other local needs.
• Risk Reduction: The private partner accepts most operational, financial and project risks.
• Economic Growth: Large infrastructure projects directly and indirectly create jobs and stimulate economic development.

Ferrovial’s Role in Public-Private Partnerships 

As a leading infrastructure company, Ferrovial has partnered with state and local governments to successfully deliver essential infrastructure projects around the world.  

From highways, like the TEXpress Lanes in Dallas-Fort Worth, Texas, to world-class airports like the New Terminal One at JFK International Airport in New York City, we are a proven partner across the U.S. For more than 20 years, Ferrovial has combined global scale and expertise to deliver and maintain infrastructure assets in the United States. Our integrated business model enables us to support the entire lifecycle of a project, helping to reduce risk at every stage while maximizing long-term value for our clients, communities, partners and investors.