Cintra achieves commercial close on I-77 P3 project

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Cintra achieves commercial close on I-77 P3 project

Ferrovial, through a consortium led by its subsidiary Cintra Infraestructuras, has achieved commercial closure with the North Carolina Department of Transportation (NCDOT) for the design, build, finance, operate and maintain 26 miles (41.8 kilometres) of the I-77 in North Carolina (USA).

Investment is estimated at US$655 million. The 50-year concession starts from the date the infrastructure opens to traffic. NCDOT announced in April that the consortium had been selected as the apparent best value proposer.

Cintra will develop this project, while the design and construction will be undertaken by a joint venture comprising Ferrovial Agroman and US construction company W.C. English.

The design includes widening 26 miles (41.8 km) of lane in both directions on the I-77 in the northern part of the Charlotte metropolitan area, between connections with the I-277 in Charlotte and the NC-150 in Iredell County. The project is divided into three sections, and the existing road will be rebuilt, increasing its capacity by creating managed lanes (with variable electronic tolls) that will improve traffic flow.

This initiative will enhance traffic conditions in one of the fastest-growing areas and will strengthen opportunities for economic development and local employment.

This contract will bring Cintra's total investment in the US to close to €10.4 billion. Cintra is one of the world's leading private sector developers of transportation infrastructure in terms of the number of projects and the volume of investment. It currently manages 2,180 kilometres of toll roads in 27 concessions in Canada, the US and Europe. Cintra is the largest shareholder in the 407 ETR concessionaire, in Ontario, Canada, with a stake of 43.23%.

List of country news

Country news

  • July 02, 2014

    Colorado seeks P3 legal consultants for I-70 project

    The Colorado High Performance Transportation Enterprise (HPTE), a division of the Colorado Department of Transportation (CDOT), along with the CDOT Office of Major Project Development and the Bridge Enterprise has issued a requests for proposals (RFP) from qualified firms interested in P3 counsel services for the Interstate 70 East PPP project. Read more
  • July 03, 2014

    AECOM to launch second investment fund

    The private equity arm of Aecom Technology Corp, Aecom Capital, will soon launch Aecom Global Fund II LP with a target of US$200 to US$300 million for real estate and infrastructure projects. Read more
  • July 04, 2014

    Abengoa selected for San Antonio water P3 project

    Abengoa has been selected to deliver 50,000 acre-feet per year of water to the city of San Antonio, Texas, USA. Read more
  • July 07, 2014

    Tender for Detroit P3 bridge project to be launched soon

    The Windsor-Detroit Bridge Authority, a Canadian Crown corporation, will release in 2014 a Request for Qualifications to develop a new bridge to link Windsor, Ontario, and Detroit, Michigan. Read more
  • July 10, 2014

    Three teams shortlisted for Georgia University campus

    The University System of Georgia (USG) has shortlisted three bidders for a contract to develop and operate a substantial portfolio of on-campus housing at campuses of the USG in the United States. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.