MADRID (dpa-AFX) - Infrastructure company Ferrovial SE (FER) announced Wednesday it has been selected by the Texas Department of Transportation (TxDOT) to design, build, and maintain the SH 99 Grand Parkway Segment B-1 project southeast of Houston, Texas. The contract is valued at approximately $1.47 billion.
The nearly 15-mile construction project spans Brazoria and Galveston Counties and marks a significant milestone in the continued expansion of the 184-mile Grand Parkway loop.
The Segment B-1 will be delivered under a design-build contract with a capital maintenance term of up to 15 years.
It includes the construction of four new tolled lanes operated by TxDOT, discontinuous frontage roads, direct connectors at SH 35 and the new SH 99 and operational upgrades to SH 35.
The project will relieve congestion, improve regional travel reliability, and support economic growth, while also enhancing emergency and hurricane evacuation capacity.
The final contract execution is anticipated this summer, with substantial completion targeted for winter 2031-2032.
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