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Ferrovial to Build Tennessee's $9.2 Billion I-24 Choice Lanes

A consortium led by infrastructure giant Ferrovial has secured a contract to construct the I-24 Southeast Choice Lanes, marking the largest private capital investment in Tennessee history. The project aims to alleviate chronic congestion between Nashville and Murfreesboro through a massive public-private partnership.

Ferrovial to Build Tennessee's $9.2 Billion I-24 Choice Lanes
Photo: Bio & News

The 26-mile expansion will introduce choice lanes in both directions, stretching from I-40 east of downtown Nashville to I-840 near Murfreesboro. The DriveTN consortium—which includes Transurban and Tikehau Star Infra—will handle the financing, design, construction, and long-term maintenance of the $9.2 billion corridor. Officials project the deal will generate $24.8 billion in concession value for the state.

Ferrovial CEO Ignacio Madridejos described the project as a landmark effort to support the region's rapid economic growth. The company plans to replicate models used in Texas, Virginia, and North Carolina, where similar express lanes have historically cut peak travel times by up to 50 percent. By providing consistent travel speeds for those willing to pay a toll, the project is also expected to improve traffic flow for drivers remaining in the traditional, free-access lanes.

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