The Tennessee Transportation Modernization Board has selected DriveTN to deliver the $9.2 billion I-24 Southeast Choice Lanes project. The consortium includes Transurban, Tikehau Star Infra, and Ferrovial.
The project will add optional toll lanes in each direction along approximately 26 miles of I-24. The corridor will run from I-40 east of downtown Nashville to I-840 near Murfreesboro. Existing general-purpose lanes will remain free.
This is a public-private partnership between the Tennessee Department of Transportation (TDOT) and DriveTN. DriveTN will design, build, finance, operate, and maintain the lanes. The consortium estimates that the concession will provide $24.8 billion to Tennessee over its term. The state may use this revenue for other transportation projects.
The proposal also reduces planned right-of-way acquisition and modifies parts of the original design. It also retains the Hickory Hollow Parkway Bridge and includes park-and-ride facilities and provisions for future transit connections.
TDOT will now negotiate the final agreement with DriveTN and the U.S. Department of Transportation’s Build America Bureau. The Transportation Modernization Board also authorized further planning for three potential corridor extensions.