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Take a look at some of the press releases we've written about the overall North Tarrant Express project and the new TEXpress Lanes.
Fort Worth, TX – March 1, 2013 – NTE Mobility Partners Segments 3 LLC (NTEMP3), a consortium of Cintra Infraestructuras, Meridiam Infrastructure, and the Dallas Police and Fire Pension System, has achieved commercial close with the Texas Department of Transportation (TXDOT) of an approximate 1.38 billion project to design, build, finance, operate and maintain an extension of the North Tarrant Express.
The approximately 10 mile project includes the following segments: 3A (approximately 6.5 miles), which runs along I-35W from Fort Worth to IH-280, with the interchange between I- 35W and IH-820; and 3B (approximately 3.6 miles), running from the interchange with IH-820 to US 287.
NTE Mobility Partners Segments 3 LLC (NTEMP3) will be responsible for the development of 3A, which will be constructed through the Texas based US headquarters of Ferrovial Agroman and Webber. The Texas Department of Transportation will construct segment 3B, and NTEMP3 will be responsible for its operation and maintenance, eliminating maintenance costs on both segments for the Texas Department of Transportation and the taxpayers.
“We are very proud to be a provider of much needed transportation solutions and economic development in the region and will continue to work with innovative state and local leaders to deliver traffic congestion relief to regional motorists,” said Nicolas Rubio, President of Cintra US.
Construction of Segment 3A is expected to start later in 2013 with a completion estimate of mid-2018. Segment 3B is anticipated to start construction in the spring of 2013, with a completion estimate of 2017. Financial close is anticipated in the coming months. Ferrovial Agroman and Webber will begin design and construction once financial close is reached.
The project will include reconstruction of the existing frontage roads and general purpose lanes, and the addition of new capacity managed toll lanes that will provide a reliable trip option for motorists wishing to bypass traffic congestion.
“Texas continues its impressive track record of partnering with the private sector to make long discussed infrastructure projects a reality,” said Joe Aiello, Partner, Meridiam Infrastructure. “By transferring construction and traffic risk to the private sector, the state is taking advantage of an innovative, cost effective method for expanding highways in major urban areas.”
NTE Mobility Partners (NTEMP) is currently in year three of construction of Segments 1 & 2 of the North Tarrant Express Project in Northeast Tarrant County. The 13.5 mile corridor runs through six cities from north Fort Worth east into Euless across the north loop of IH 820 and SH 183/121.
About Cintra US
Based in Austin, Texas, Cintra US is the American arm of Cintra, a subsidiary of Madrid-based Ferrovial. Cintra is one of the leading private-sector transportation infrastructure companies in the world with experience spanning more than 40 years of innovative highway development on three continents. Today its portfolio includes more than 1,000 miles of managed highways worldwide, representing a total global investment in traffic congestion improvements of more than $20 billion. In the United States, Cintra US manages roadway projects in the Midwest and Southwest. Ferrovial, one of the world's largest infrastructure and city operators, is committed to developing sustainable solutions. The company has over 57,000 employees and operates in more than 25 countries. Its main business areas are: Services, Toll Roads, Construction and Airports. Ferrovial is part of Spain's blue-chip IBEX-35 index and also the prestigious Dow Jones Sustainability Index and FTSE4Good. Ferrovial manages 407 Express Toll Route (Canada), Heathrow Airport (UK), Chicago Skyway (USA) and Ausol toll road (Spain), among others. Ferrovial subsidiaries in the United States include Cintra US, Ferrovial Agroman, and Webber. About Meridiam Infrastructure Meridiam is a major investor in public infrastructure with a commitment to improving the fabric of communities where it invests. Meridiam brings its substantial domestic and international experience in transportation to this project. Meridiam is one of the largest PPP Greenfield investors/developers in the market. Its 25 year funds align the long term interests of the communities and governments it serves, the natural asset life and investor interests.
About the Dallas Police and Fire Pension System
Created by the City of Dallas in 1916, the Dallas Police and Fire Pension System represents 9,200 members and their families. The System’s assets are maintained for the exclusive benefit of the members and their qualified beneficiaries. The System’s funding comes from three sources: member contributions, city contributions and investment returns. The Dallas Police and Fire Pension System provides benefits for retired City of Dallas police officers and firefighters, and upon the member’s death, for their qualified survivors. The System is administered by a 12-member Board of Trustees, consisting of three active police officers, three active firefighters, one police officer pensioner, one firefighter pensioner, and four Dallas City Council members