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Ferrovial has presented its reputation in construction projects that maintain the cities in operation.
The Amsterdam -based civilian engineering firm, which will help to deliver to New York $ 9.5 billion new terminal at JFK AirportYou see the infrastructure as a lasting sector. Silvia Ruiz, the overall head of Ferrovial’s investors, exposed how Population growth and urbanization Demand powered by roads and airports in a previous conversation with the immersion of the construction.
Here, Ruiz focuses on the mechanics of what these projects are resistant to narrower budgets and changing the economic conditions.
After more than two decades in infrastructure finance, he says that “boring” assets, such as toll roads and airports, are nothing more. In their opinion, these projects generate reliable and, perhaps, more important, their economic cycles. Ruiz noted the performance in the company’s road division and the progress in the new JFK terminal as evidence of the strength of the sector.
Ruiz then talks about the immersion of construction on the perspectives of roads, airports and global infrastructure construction in the United States.
The following has been edited for brevity and clarity.
Construction division: Why are roads and airports resistant to long -term investments?
Silvia Ruiz: Roads, roads and airports are essential to help keep people and goods moving. Improving this infrastructure results in more efficient travel, especially for growing cities that need mobility solutions. Infrastructure is a long -term long -term asset, which attracts investors with longer retention periods. Possess a piece of toll roads or airport assets offers stable and inflationary returns.
The results of roads and airports speak for themselves.
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Permission granted by Ferrovial
In the first half of 2025, the Ferrovial Road Division gained heavy income from its North -Americans, and recorded a 14.9%increase. At the airports, the new one terminal of JFK Airport in New York continues to advance and will open next year, and the construction has advanced by 72% at the end of the second quarter 2025.
As cities, communities and companies grow in all the United States, the need for infrastructure and improvement projects increases. The need for infrastructure creates constant demand.
How do the city’s finance conditions and municipal finances influence the types of projects pursued by the Ferrovials?
Infrastructure funding is a point of pain for most states and cities, and public-private collaborations offer an innovative solution. As cities grow and the budgets are narrowing, the private sector can help close the funding gap, offering a more efficient way to deliver critical infrastructure to communities. We believe that public-private associations will be the basis of this new age of infrastructure development in the United States
An example is our managed They express lanes in Dallas-Fort Worth. The Texpress Lanes, NTE, NTE 35W and LBJ Express, have led to a significant economic impact, providing approximately $ 24 billion to the local economy, supporting 115,000 jobs and providing almost $ 7 billion in wages obtained. We have successfully replicated this model of lanes managed with P3 in Virginia at 66 Express outside the Beltway, and North Carolina on I-77 Express.
We see an attractive pipeline of assets in the cities where Ferrovial is already present, such as Atlanta, Charlotte, Nashville and Virginia of the North, which have a clear need for infrastructure to improve mobility.
How are the rates and pressures of the supply chain on key materials that influence the Ferrovial approach to the airport and the airport projects?
Many of the large -scale construction projects of Ferrovial are the first phases, so we see a limited exhibition. In addition, we have a strong commitment to local supply, almost 97% of our purchases come from local suppliers each year.
We have been operating in the United States for 20 years and the long -term need for modern and resistant infrastructure is still growing. We see an attractive asset of assets that will bring value to our interest groups. In general, our construction order book is healthy, reaching a maximum of time and the division provides a solid profitability with a adjusted ebit margin of 3.5%, in line with our long -term goal. We are excited to continue to deliver infrastructure to the United States
Given the highest loan costs in recent years, what trends do you see in the financing environment for the main creations of infrastructure?
A $ 3.7 trillion investment gap is calculated for the United States infrastructure.
The United States Department of Transportation updated its finance and innovation program in transport infrastructure, or Tifia, allowing a greater set of sponsors to finance more than its projects. Increasing the 49% loan lid opens the door for more project sponsors, but successful delivery still depends on experience, scale and discipline.
Recent trends have been in favor of streamlining regulations and processes. These efforts accelerate the delivery of the project, improve security and increase the opportunities for public-private collaboration to provide essential infrastructure in communities.
Are you watching any other tendency around the construction of infrastructure?
The infrastructure is still a class of strong and durable assets that generate resistant income, strong margins, stability and resistant results in inflation. But what is exciting now is how it evolves as the cities grow and the demand for travel increases.
Airports, for example, are being designed as destinations themselves, becoming traveling nuclei with purchases, dining rooms and hospitality that contribute to income. Roads and airports are becoming smarter through digital tools, from dynamic toll systems that facilitate congestion to advanced passenger flowing technologies that make travel more efficient.
These changes show resilience in infrastructure assets, while telling a story of growth, as infrastructure is still a vital benefit for the United States, creating shocking investment opportunities.
For Ferrovial, we did a strong performance in the first half of 2025, supported by solid income and growth of our unique north -north assets. We see a deep pipeline of opportunities to provide projects that help the growing communities to prosper and to create a lasting value for the interested parties.
