John Laing and Ferrovial has acquired an 7.14% stake each in I-77 Mobility Partners from abrdn. I-77 Mobility Partners is the developer and operator of the I-77 Express Lanes project in Charlotte, North Carolina.

With this acquisition, John Laing’s total shareholding in the project has increased to 24.585%.

I-77 Express Lanes is a public-private partnership between North Carolina Department of Transportation and I-77 Mobility Partners. The project was opened in 2019 and has a 50 year concession period. The project involves widening of 26 miles of highway and adding managed lanes with variable electronic tolling. The I-77 is a key north-south corridor connecting the major employment centre of downtown Charlotte with the growing residential communities of Iredell and Mecklenburg counties.