An open letter from Ferrovial CEO
Ignacio Madridejos
AUSTIN,
Texas, Oct. 15, 2024 /PRNewswire/ --
As Ferrovial celebrates the 10-year anniversary of the
TEXpress Lanes in Dallas-Fort
Worth, we've been taking some time to reflect on the
project, specifically, the impact of express lanes, public-private
partnerships, and Ferrovial's integrated model on the rapidly
growing city.
Texas partnered with the
Ferrovial-led consortium to finance, design, build and operate the
North Tarrant Express (NTE), which officially opened in 2014. The
success of the project led to the development of the TEXpress Lanes
network–NTE, NTE 35W, and the LBJ Express. The TEXpress Lanes have
majorly impacted what used to be the highway ranked no. 14 on the
list of most congested metros in the
United States.
Public-private partnerships (P3s) like TEXpress allow local
governments to have access to the technical expertise, innovation,
and experience that is not typically available within the public
sector. P3s also bring in private capital needed to fund these
large-scale projects to expand the capacity for growth. By creating
local jobs, supporting local subcontractors, and stimulating
further economic activity, these infrastructures serve as economic
engines for communities.
TEXpress has effectively improved the highway experience for
drivers across the region with 74% of drivers on the express lanes
reporting a positive experience and 65% of drivers on these lanes
managing to spend under $20 per month
on tolls. TEXpress has had an economic impact of $20.2 billion on the region, with 104,500 FTE
jobs supported, and $5.9 billion in
earned wages.
I'm proud to say that Ferrovial has a 20-year track record of
successfully delivering complex projects across the U.S.,
replicating the TEXpress model in both North Carolina and Virginia.
Our distinct business model allows us to tackle the most complex
projects in a way that creates the most value. We have a strong
understanding of project risks and how to mitigate them. We have
achieved a 12% annual total shareholder return in the last 10 years
as a result of our value-oriented investment process, financial
discipline, and best-in class capabilities.
We look forward to continuing our work with leaders who have a
vision for the future of infrastructure, helping their communities
flourish as their populations grow.
Ignacio Madridejos
Ferrovial CEO
About Ferrovial
Ferrovial (Nasdaq: FER) is a leading global infrastructure
company transforming highways, airports, and energy infrastructure
across North America and around
the world. With approximately $27
billion in market capitalization, Ferrovial is North America's largest listed road and
airport infrastructure company. The company has operated in
North America for more than 20
years building and managing toll roads in Ontario, Texas, Virginia, and North
Carolina, and is currently developing the New Terminal One
at JFK International Airport in New
York. Ferrovial is present in more than 15 countries, with
global headquarters in Amsterdam
and U.S. headquarters in Austin,
Texas. For more information, visit Ferrovial on LinkedIn and
X @ferrovial, and at ferrovial.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/10-years-of-progress-how-the-texpress-lanes-are-shaping-the-future-of-infrastructure-and-growth-302276637.html
SOURCE Ferrovial
