ACS y Acciona llevan a arbitraje la subasta del peaje I-24 de Ferrovial

ACS and Acciona, members of the 24 Choice Lanes Partners consortium with Meridiam investment fund, are seeking legal recourse through arbitration to challenge the selection of Ferrovial for the construction and operation of the I-24 Southeast Choice Lanes highway in Tennessee, USA. The consortium lost the bid to Ferrovial, a Spanish company led by the Del Pino family, and now accuses the Tennessee Department of Transportation of impeding the acquisition of key information regarding the value of the concession.

The Spanish consortium demands that the Department of Transportation release all information previously declared confidential, arguing that they need this data to assess the economic differences between Ferrovial's offer and the other bids. According to ACS and Acciona, the winning bid from Ferrovial for the 42-kilometer highway, with a 50-year operation period, is valued at $9.2 billion and includes a $24.8 billion concession payment, which is 17% higher than the other bids.

This discrepancy raises concerns about the transparency of the bidding process and whether the terms of the agreement, such as the payment schedule and certainty of payments, have been altered since the competition ended.

The Spanish companies have been requesting documentation about the bidding process since September and October, after the commercial closure of the operation was announced. However, the Tennessee Department of Transportation refused to provide this information, citing confidentiality due to the ongoing bidding process. Ferrovial recently stated that the financing scheme closure could occur before July 2027.

The Del Pino family group, also a competitor, has refused to disclose financial details of the operation, which is the largest highway concession in the USA, as they face another competition for the I-285 road in Georgia, valued at $10 billion. Ferrovial is set to submit an offer for the I-285 Georgia highway this month, having previously accused the Acciona and ACS consortium of industrial espionage in the Atlanta SR400 competition in 2023.