Ferrovial celebrates opening of NTE 35W Segment 3C in Texas - a more than $1 billion investment in improving America's roadways

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Jun 20, 2023, 13:00 ET

Construction of the third segment of the NTE 35W project in Fort Worth, Texas was completed three months ahead of schedule
The 6.7-mile section of the I-35W represents an investment of more than $1 billion
The project supports Ferrovial's ongoing commitment to investing in America's infrastructure

AUSTIN, Texas, June 20, 2023 /PRNewswire/ -- Ferrovial, a global leader in infrastructure solutions, today announced the completion of the third segment of the North Tarrant Express (NTE) 35W project in Fort Worth, Texas. The inauguration was celebrated with the traditional ribbon-cutting ceremony, together with regional, state, and federal officials, as well as Ferrovial Chairman Rafael del Pino, CEO Ignacio Madridejos, and other executives of the company.

"We are proud of our history building projects in North Texas," said Madridejos. "The visionary leaders in this area have been pursuing congestion relief for many years, and their proactive approach has paid off as the region continues to thrive."

Representing an investment of more than $1 billion, this 6.7-mile section of I-35W from N. Tarrant Parkway to Eagle Parkway in Fort Worth consists of improvements with the reconstruction of main lanes, expanded frontage roads, and the addition of TEXpress Lanes. The completed project will offer drivers safer, more reliable choices when traveling through the region.

A concession led by Ferrovial subsidiary Cintra financed and designed the new highway system and will operate and maintain this segment along I-35W on behalf of the Texas Department of Transportation (TxDOT). In addition to Cintra, which is the majority stakeholder (53.7%), equity partners include Meridiam (17.5%) and APG (28.8%). Completed three months ahead of schedule, the roadway was constructed by Ferrovial Construction and Webber, also subsidiaries of Ferrovial.

"We are grateful to the Texas Department of Transportation and our other public partners that helped make this project possible," said Alberto Gonzalez, CEO of Cintra, US. "This is another example of how public administrations and private enterprise can work together to produce transportation solutions that benefit drivers and our communities."

Through this public-private partnership, the NTE 35W Segment 3C project was constructed at no cost to the State of Texas. As of today, Ferrovial's total investment in Texas highways amounts to more than $7 billion.

"There is an incredible sense of accomplishment when you complete a major infrastructure project like the rebuilding and expansion of Interstate 35W. We had over 130 firms working on the project, generating significant economic impact to the region, and were able to complete the project ahead of schedule thanks to the work of our great team," said Angel Luis Sanchez, CEO of Ferrovial Construction, US & Canada. "Their attention to detail and quality is in line with the high standards Ferrovial sets for its projects," added Jose Carlos Esteban, CEO of Webber.

With US headquarters in Austin, Texas, Ferrovial's businesses span transportation infrastructure, construction, waterworks, and energy. Cintra, a global leader in innovative transportation solutions, through its assets, has generated more than $22 billion in economic impact in the US. Cintra and its partners manage more than 90 miles in the US, with five managed lanes projects: LBJ Express (LBJ), North Tarrant Express (NTE) & NTE 35W, in Dallas-Fort Worth, Texas; I-77 Express, in Charlotte, North Carolina; and I-66 Express, in Northern Virginia. Ferrovial Construction has worked on projects including the SH 99 Grand Parkway in Houston, a section of California High-Speed Rail, the I-285/SR 400 Interchange in Atlanta, and the I-35 NEX in San Antonio. Webber is a leading Houston-based construction company that specializes in heavy civil, waterworks, energy and infrastructure services and is dedicated to safely providing intelligent solutions to its clients and community.

Ferrovial recently announced plans to apply for listing in the US.

About Ferrovial

Ferrovial is a global infrastructure operator committed to developing innovative solutions for a world on the move. With more than 70 years of experience, its family of companies holds leadership positions in transportation infrastructure, construction, waterworks, and energy. The company operates in 15 countries, and its activities are mainly concentrated in the USA, Spain, the United Kingdom, Canada, and Poland. Ferrovial Holding U.S. is headquartered in Austin, Texas, with over 4,000 employees across the country. For more information, visit ferrovial.us

SOURCE Ferrovial