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Ferrovial to Build and Operate New Extension to North Tarrant Express in Texas

Infra News - Published on Fri, 16 Aug 2019

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Ferrovial, through a consortium led by its toll road subsidiary Cintra Infraestructuras, is to build and operate a new extension (segment 3C) to the North Tarrant Express in Texas, worth USD 910 million, equivalent to EUR 813 million. The consortium, NTE Mobility Partners Segments 3 LLC, also includes the Meridiam fund and APG, a specialized pension fund management firm. Ferrovial Agroman will be in charge of designing and building this new road segment. It will extend along 6.7 miles, from Heritage Trace Parkway, north of US 81/287, to Eagle Parkway, in Denton County. Existing lanes will be upgraded and will continue to be toll-free, while two tolled Managed Lanes each way will be built, as well as on-ramps. Construction work is already under way and the road is expected to be open to traffic by the end of 2023. The concession expires in 2061.

The project, which has just achieved financial closure, will be financed through a combination of equity contributions by the partners (USD 160 million) and the issuance of a PAB (USD 750 million).

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Posted By : Mohan Sharma on Fri, 16 Aug 2019
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