Fluor Breaks Ground on I-35 Capital Express South Project in Austin, Texas

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) and the Texas Department of Transportation recently broke ground on the I-35 Capital Express South project in Austin, Texas. Awarded in Q2 2022, the project aims to alleviate traffic congestion along I-35, which sees over 150,000 vehicles daily. Thomas Nilsson, president of Fluor’s Infrastructure business, highlighted the project’s role in enhancing mobility and supporting Texas's economic growth. Substantial completion is expected by early 2028.

Positive

• Fluor awarded the I-35 Capital Express South project, enhancing traffic flow in Austin.
• The project aligns with economic growth initiatives in Texas, addressing rising traffic demands.

Negative

• Substantial completion of the project is not expected until early 2028, indicating a long-term commitment.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) and officials from the Texas Department of Transportation broke ground yesterday on the Interstate 35 (I-35) Capital Express South project in Austin, Texas. Fluor was awarded the project in the second quarter of 2022.

Fluor, Texas Department of Transportation and other team members break ground on the I-35 Capital Express South project in Austin yesterday. (Photo: Business Wire)

“It is always gratifying to break ground on a new project that will provide relief from traffic congestion and improve mobility and safety,” said Thomas Nilsson, president of Fluor’s Infrastructure business. “This project reinforces Fluor’s commitment to deliver quality infrastructure and supports economic development and commerce in Texas. This is the first in a series of vital infrastructure projects to rebuild the I-35 corridor in response to business and population expansion in Austin, one of the country’s fastest growing regions.”

Interstate 35 through Austin is one of the most traveled interstates in Texas and serves as the backbone of the local, regional and national transportation network. This section of the interstate serves more than 150,000 vehicles per day.

Substantial completion is anticipated in early 2028.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006377/en/

Brian Mershon

Media Relations

469.398.7621



Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is the I-35 Capital Express South project by Fluor?

The I-35 Capital Express South project aims to improve traffic flow and safety along one of Texas's busiest interstates.

When did Fluor break ground on the I-35 project?

Fluor broke ground on the I-35 Capital Express South project on November 15, 2022.

What is the expected completion date for the I-35 project?

Substantial completion of the I-35 Capital Express South project is anticipated in early 2028.

How many vehicles travel on I-35 daily?

The I-35 corridor through Austin serves over 150,000 vehicles per day.

What is Fluor Corporation's stock symbol?

Fluor Corporation is listed under the stock symbol FLR on the NYSE.