Nashville, Tenn. — The Tennessee Department of Transportation (TDOT) and DriveTN have advanced the concession agreement for the I-24 Southeast Choice Lanes project.
Following DriveTN’s selection as Best Value Proposer, TDOT and DriveTN reached commercial close on September 30, under an agreed-upon financial structure that reduces risk, secures the $24.8 billion concession value, and establishes a payment structure that will provide both near-and long-term transportation funding benefits for Tennessee.
With a construction cost of $9.2 billion, the I-24 Southeast Choice Lanes Project is approximately seven times the size of TDOT’s annual budget for projects and programs. Rather than advancing improvements through a series of projects over multiple decades, Tennessee is delivering a comprehensive corridor solution expected to open in 2035…