A consortium led by Citigroup and Spain’s Abertis Infraestructuras won the bidding war to run the Pennsylvania Turnpike with a $12.8 billion offer, Gov. Edward Rendell said on Monday.

The group, which includes Australia’s Babcock & Brown, beat out a rival group that includes Goldman Sachs and Transurban Group.

The deal is the largest ever privatization of a toll road in the United States, as infrastructure investments become increasingly in vogue. Firms as varied as Morgan Stanley, Kohlberg Kravis Roberts and the Blackstone Group have announced new infrastructure initiatives.

According to The Philadelphia Inquirer, the deal still faces some high hurdles. The Pennsylvania legislature must still approve the sale, and lawmakers have already expressed discontent over the transaction.