Drive TN Consortium reaches commercial close on Tennessee's I-24 Southeast Choice Lanes
Transurban today announces that the Drive TN Consortium ("DriveTN") has reached commercial close to deliver Tennessee's I-24 Southeast Choice Lanes project ("Project") in Nashville.
DriveTN, comprised of Ferrovial, Transurban and Tikehau Star Infra1, will design, build, finance, operate and maintain the new I-24 Southeast Choice Lanes ("Choice Lanes"). The milestone establishes the contractual framework and pathway to reaching financial close by mid-2027.
The 26-mile Project will add Choice Lanes in both directions along I-24 between Nashville and Murfreesboro, improving mobility along one of the region's most congested corridors. Additionally, the Project contemplates future extensions to the I-24 to be developed over time. The Project is anticipated to provide more reliable travel speeds for Choice Lane users, while also reducing congestion for drivers in the free general-purpose lanes.
The gearing and capital structure will be finalised by financial close. Transurban's equity share is expected to be funded using existing balance sheet capacity over time.
