I-77 Managed Lanes project investment is part of the Ferrovial’s Horizon 24 Plan for growth in sustainable infrastructure projects of high concession value Transaction is expected to close by the end of 2020 Ferrovial, through its highway subsidiary Cintra, has agreed with one of the existing shareholders to acquire an additional 15 percent of I-77 Mobility Partners (I-77MP), the company developing and operating the I-77 Express Lanes project, increasing its stake in the venture located in North Carolina in the United States. The operation is valued at $77.7 million dollars (about 65.7 million euros) plus a deferred payment based on the asset’s performance in June 2024 estimated at $2.7 million dollars (about 2.3 million euros). The move increases Ferrovial’s share of the partnership from 50.1 percent to 65.1 percent. The transaction is expected to close by the end of 2020. Designed to alleviate congestion and enable faster, more reliable journeys, the I-77 Express is a public-private partnership between North Carolina Department of Transportation (NCDOT) and I-77MP which has rebuilt the existing road and increased capacity on a 26-mile stretch of highway in the northern part of the Charlotte metropolitan area. The Express Lanes were opened to traffic at the end of last year and significantly reduce travel times in one of the fastest growing areas in the country. The concession contract between I-77MP and NCDOT runs until 2069. North America: Strategic Market in Horizon 24 The transaction highlights the company’s confidence in this asset while reinforcing its commitment to North America, its main market by revenue. Ferrovial has six Managed Lanes in its portfolio located in Texas (LBJ, NTE, NTE 35W and NTE 3C), Virginia (I-66) and North Carolina (I-77).23 In September, Ferrovial, through the LBJ Infrastructure Group consortium led by its subsidiary Cintra, closed the refinancing of the Private Activity Bonds (PABs) of the Lyndon B. Johnson Highway (LBJ Expressway) with a bond issuance totaling $622 million (equivalent to about 557 million euros). The transaction was well-received by investors. At the beginning of 2020, Ferrovial announced its Horizon 24 Plan which established the company’s focus on the development of sustainable infrastructure with projects of high concession value and designated the North America as a key market for growth and development. Cintra is one of the leading companies in the private development of transportation infrastructure throughout the world, by number of projects and by volume of investment. Cintra currently manages about 915 miles of highways, spread over 23 concessions in Canada, the United States, Europe, Australia and Colombia including a 43.23 percent stake in the 407 ETR highway concessionaire in Ontario, Canada.

• Press releases

From its start, I-77 Express has strived and proven to not just be a roadway connecting people within the Charlotte/Lake Norman area but also a positive, community-focused organization within the region. The 2020 I-77 Drive for Community is an example of that community-focused approach in action, and this year, it will be held September 14 through 28

• Local news

I-66 Express Mobility Partners is a consortium of leading global infrastructure companies, including Cintra which aims to improve the quality of life of the residents of Northern Virginia by transforming Interstate 66 from I-495 to Gainesville  The team has been awarded the 2020 Business Partnership Award for its sponsorship of the 2020 Prince William Manassas Regional Science and Engineering Fair held In March  The SPARK Foundation (Supporting Partnerships and Resources for Kids) aims to provide programs and educational initiatives to Prince William County Public Schools 

• Local news

FORT WORTH, TEXAS — Ferrovial, the parent corporation of Cintra and Ferrovial Construction, has announced the donation of more than $67,000 to the Tarrant Area Food Bank (TAFB) in Fort Worth. The donation is designated to assist with efforts to provide resources and food during the COVID-19 crisis.  

• Local news

The contract includes reconstruction of existing Interchanges between State Loop 12, State Spur 482, State Highway 114 and 183.

• Local news