Rick Perry, Governor of the State of Texas, and Rafael del Pino, Chairman of Cintra, signed a 50-year contract to develop the TTC-35 High Priority Trans-Texas Corridor on Friday, 11 March.
Accordingly, the consortium headed by Cintra (85%) and which includes Zachry (the second-largest construction company in Texas) has become a strategic partner of the Texas Department of Transportation (TxDOT) in designing and planning the development of the largest infrastructure project ever in the US, with an investment of between 29 and 36.7 billion dollars.
In the next few months, Cintra will develop the Master Plan to define the infrastructure design and plan.
In conjunction with TxDOT, Cintra and its partner will be able to identify projects over which they have a preferential right to negotiate direct execution. In its bid, Cintra identified five toll road projects worth approximately 6 billion dollars for direct development; by agreement between the consortium and TxDOT, they could be subject to preferential negotiations.
Private sector, infrastructure and create jobs
This partnership brings private investment billion of dollars in private investment to provide congestion relief to I-35 said Ric Williamson, chairman of the Texas Transportation Commission. Private sector funding will help put transportation improvements on the ground sooner.
Rafael del Pino, Chairman of Ferrovial and Cintra said that we are delighted to play a role in helping Governor Perry and TxDOT bring billions of investment dollars to Texas and create new jobs for Texans. In fact, we consider this to be a major Texas jobs producer, because estimates show this project will create more than 140,000 direct and indirect Texas jobs.