If you work in construction in the U.S., especially in heavy civil and transportation, the next 12–18 months are going to be very interesting. I am talking about projects worth billions of dollars. Express lanes, tunnels, high-speed rail, major P3s and some of the largest transportation projects currently being developed anywhere in the world.

We have already seen some huge moves during 2026, but when you look at what is still coming, I think 2027 could be even more interesting. Georgia, Tennessee, California, New York and New Jersey are probably some of the places I would watch the closest. And there is another interesting part of the story. When you start looking at the companies behind these projects, you see the same names again and again.

ACS. Ferrovial. Acciona. Sacyr. VINCI. Kiewit. Meridiam. Transurban. Skanska.

Sometimes they compete against each other. Sometimes they create completely different partnerships. Sometimes companies that compete on one project appear together on the next one.

The battle is not only about winning one project anymore. It is about positioning yourself for the next 10 or 15 years of infrastructure investment in the United States.

        ATLANTA IS BECOMING ONE OF THE PLACES TO WATCH

Let's start with Georgia because, in my opinion, what is happening around Atlanta deserves a lot of attention.

The SR-400 Express Lanes project was already a major award. Now we have I-285 East moving through procurement, and behind that there is a much larger pipeline of managed lanes around Atlanta.

I-285 East is particularly interesting because several of the biggest international infrastructure groups are fighting for it.

And there is a nice story developing here.

ACS, Acciona and Meridiam already have a very significant position in Georgia through SR-400.

Ferrovial has just had a massive success in Tennessee with I-24.

Sacyr continues trying to grow its position in the American infrastructure market.

And now many of these groups are looking again at the same opportunity.

So the question is simple: Who takes the next one?

This is why I think I-285 East is much more interesting than simply looking at the dollar value of the contract.

Whoever wins does not only get another major project.

They get another major organization in Atlanta. More people. More local experience. More relationships with designers and subcontractors. More knowledge of GDOT. More understanding of the local market.

I-285 West is another project that should be watched carefully, together with the broader development of Atlanta's managed-lanes network.

This is why sometimes I think we focus too much on the value of one award and not enough on what winning that award actually means strategically. If you win a $4B or $5B megaproject and establish hundreds of people in a market, you are already in a very different position when the next procurement starts.

        CALIFORNIA: $2.4 BILLION IS ONLY THE BEGINNING

Then we have California.

The California High-Speed Rail program has been discussed for years, normally for its cost, delays and political controversy.

But if you work in construction, there is another way to look at it. There is still an enormous amount of work to be awarded.

One of the most immediate opportunities is the Merced to Madera Civil Works contract.

The estimated value is approximately $2.4 billion, covering around 30 miles of new high-speed rail infrastructure.

Statements of Qualifications are scheduled for September 2026 and the Authority expects to shortlist two teams shortly afterward. The procurement then continues through 2027.

So very soon we should know which two teams are going to fight for another $2.4B construction contract.

But this is the important part:

  Merced–Madera is not the California High-Speed Rail opportunity. It is one part of it.

There are additional procurements coming behind it.

Program delivery, additional design-build work, facilities, systems and other infrastructure packages are all part of a program that will continue creating opportunities for contractors, designers, consultants and project controls professionals.

Whatever your opinion about California High-Speed Rail may be, from a construction-market perspective it is difficult to ignore.

        NEW YORK AND NEW JERSEY: GATEWAY IS STILL MOVING

Then go to the opposite side of the country.

New York and New Jersey.

The Gateway Program and Hudson Tunnel Project are probably some of the most technically interesting infrastructure projects in America.

And some people make the mistake of thinking everything has already been awarded. But it hasn't. Several major contracts are already under construction or procurement, but additional tunnel, rail and systems packages remain.

The A-Yard and 10th Avenue Tunnel package is one of the contracts moving through procurement, while major systems and fit-out work remains part of the upcoming program.

And these projects are not easy projects to bid. This is not simply earthworks, drainage and pavement.

You are talking about tunneling, existing rail operations, Manhattan logistics, utilities, structures, systems, interfaces between contractors, multiple agencies and an enormous amount of coordination.

The number of companies capable of taking that risk as a prime contractor is relatively small.

That is why I am particularly interested in seeing how the teams form.

You are likely to see many familiar names from the U.S. heavy civil market and international contractors with major tunneling experience. And again, the consortium is almost as interesting as the project itself.

        TENNESSEE HAS CHANGED THE GAME

And then there is Tennessee.

This one deserves special attention after what happened with I-24.

The DriveTN team was selected for the I-24 Southeast Choice Lanes project, with a project value estimated at approximately $9.2 billion and a proposed concession value of around $24.8 billion.

Think about… $9.2 billion… For one transportation project.

The selected team brings together Cintra, Transurban, Tikehau Star, Ferrovial, Webber and AECOM.

For Ferrovial in particular, this is a huge strategic win in the United States.

But for me, the interesting question is:

What happens next in Tennessee?

Because once a state successfully develops a project of this scale using this model, everybody starts looking at the pipeline.

Future Choice Lanes projects in Tennessee are therefore something I would keep very high on the radar.

        THE SAME COMPANIES KEEP APPEARING

When you put Georgia, Tennessee, California and the Northeast together, something becomes obvious.

The pool of companies capable of competing seriously for these projects is not that large.

Building a $5B project is already difficult. Financing, designing, building, operating and accepting long-term risk on one is a completely different game.

That is why we continue seeing names such as ACS, Ferrovial, Acciona, Sacyr, VINCI, Kiewit, Skanska, Meridiam and Transurban around these opportunities.

But I think it is also important not to look only at the construction company.

        AND THEN SOMEBODY HAS TO BUILD WHAT WAS PROMISED

This is the part of these megaprojects that I personally find the most interesting. Before the press release, before the groundbreaking ceremony, before thousands of people arrive on site…  there is a bid.

And inside that bid there is a schedule. Someone has to say:

Yes, we can build this project by this date.

That sounds simple until you start opening the schedule.

This is where, in my opinion, there is a big difference between having a schedule and actually planning a project.

A GOOD BID SCHEDULE SHOULD PREDICT THE PROJECT

For me, this is one of the biggest differences between scheduling and planning. A good bid schedule should not simply demonstrate that the contractual completion date can be achieved.

It should predict how the project will actually be built.

Over the next 12–18 months, I would personally keep a very close eye on Georgia, California, New York/New Jersey and Tennessee.

• I-285 East should give us another major managed-lanes decision.
• California will reveal the teams fighting for the next major High-Speed Rail civil works package.
• Gateway will continue moving major packages through the market.
• Georgia has additional Express Lanes opportunities behind I-285 East.
• And Tennessee has just demonstrated how big its Choice Lanes program can become.

There will obviously be many other major U.S. construction awards. But these are some of the ones I find particularly interesting.

Because of who is competing for them, how the teams are being formed and what winning them could mean for the projects that come next.

The battle for the next American megaproject is not going to start next year. It has already started.

And somewhere, right now, somebody is probably looking at a Primavera schedule trying to prove that several billion dollars of construction can be delivered on time.

That may be the most interesting part of all of this.

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