Cintra achieves commercial close on I-77 P3 project

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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%.

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