Transurban Group (ASX:TCL) said the DriveTN consortium, comprising Ferrovial, Transurban, and Tikehau Star Infra, reached commercial close to deliver the 26-mile I-24 Southeast choice lanes project in Nashville, Tennessee, according to a Thursday filing with the Australian bourse.

The consortium will design, finance, build, operate, and maintain the project, adding choice lanes in both directions between Nashville and Murfreesboro to improve travel reliability and ease congestion on existing free lanes, per the filing.

The agreement establishes the contractual framework for achieving financial close by mid-2027 while allowing for future extensions of I-24, the filing added.