Ferrovial N.V. (FER) Form 6-K — Oct 27, 2026
Ferrovial furnished an investor presentation ahead of its October 28 conference call detailing the I-285E Express Lanes project in Atlanta, where its 90%-owned TEMG vehicle won a Best Value award. Phase 1 carries an $8.9bn construction cost and a proposed $23.6bn concession payment, with Commercial Close expected in December 2026 and Financial Close in October 2027. The Comprehensive Development Agreement with Georgia DOT provides a pipeline of two additional phases: Phase 2 (23 miles EB, financial close expected 2029) and Phase 3 (14 miles, financial close expected 2032), each with 50-year operating terms.
Key figures
- Initial otr
- $2.01/mile
- Hard cap otr
- $4.02/mile
- Phase1 length
- 23 miles, I-285 WB, 2 express lanes
- Phase2 length
- 23 miles, I-285 EB
- Phase3 length
- 14 miles, both directions, I-285 + SR 141
- Target return
- double-digit equity IRR
- Daily vehicles
- 200-240K
- Groundbreaking
- Q1 2028
- Phase1 opening
- 2034
- Temg ownership
- 90% Ferrovial / 10% Tikehau
- Commercial close
- December 2026
- Congestion hours
- 8 hrs daily, 20 mph at peak
- Corridor trips served
- 95% vs 55% in GDOT base design
- Phase1 financial close
- October 2027
- Phase2 financial close
- 2029, opening 2036
- Phase3 financial close
- 2032, opening 2040
- Phase1 construction cost
- $8.9bn
- Phase1 concession payment
- $23.6bn proposed (excludes additional $515m due at Financial Close to reimburse State Cost)
AI analysis
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