Ferrovial’s shares surged 3.4% to €56.97 on Tuesday after the Spanish infrastructure group and partners secured a $9.2 billion contract to develop Nashville’s I-24 Southeast express lanes.
The project, awarded by Tennessee authorities, will be developed by a consortium led by Ferrovial under the name DriveTN. The group includes Australia’s Transurban and France’s Tikehau Capital, which will jointly finance, design, build, operate and maintain the 10-year initiative.
The announcement was formally filed with Spain’s securities regulator, the CNMV, in the early hours of August 20. CEO Ignacio Madridejos highlighted that toll-road assets in U.S. cities such as Charlotte and Dallas-Fort Worth form the backbone of Ferrovial’s valuation, underscoring the strategic importance of the deal.
The contract follows a strong first-half 2026 earnings report, which cited robust revenue growth in U.S. managed lanes and expanding construction EBITDA. Major global indices, including the S&P 500 and Nasdaq, traded flat during the session, with no central bank announcements in Europe contributing to the move.
