Fluor Joint Venture Selected for A27 HHZ Everdingen-Hooipolder Roadway Project in the Netherlands

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has entered a contract worth $436 million with the Ministry of Public Works and Water Management in the Netherlands via its joint venture, ALSÉÉN, to undertake design, construction, and maintenance of the A27 motorway from Everdingen to Hooipolder. This project will expand nearly 25 miles of the motorway and includes bridge replacements and future connections. The contract will be recorded in Q1 2023, with preliminary work expected to start this year and completion anticipated between 2029 and 2031.

Positive

• Secured a $436 million contract for the A27 motorway project.
• Joint venture approach aims to reduce risks and improve project outcomes.
• Project expected to alleviate traffic congestion on one of the Netherlands' busiest motorways.

Negative

• None.

IRVING, Texas & AMSTERDAM--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that its joint venture with Ballast Nedam, ALSÉÉN, signed the contract with the Ministry of Public Works and Water Management (Rijkswaterstaat) to perform design, construction and maintenance services for the A27 motorway project from Everdingen to Hooipolder in the Netherlands. Fluor will book its share of the $436 million (€414 million) contract in the first quarter of 2023.

Fluor Corporation joint venture to perform design, construction and maintenance services for the A27 motorway project from Everdingen to Hooipolder in the Netherlands. Fluor has been building roads and bridges in the Netherlands for more than 20 years. (Photo: Business Wire)

“Fluor has more than 20 years of experience designing, building and maintaining sustainable infrastructure projects in the Netherlands,” said Shawn West, president of Fluor’s Infrastructure business. “This is the first project in the region to use a new two-phase approach between the joint venture and Rijkswaterstaat to limit project risks. We expect this unique approach to result in better project outcomes and a more stable execution phase for all parties.”

The joint venture team will widen nearly 25 miles (40 kilometers) of the existing A27 motorway, repair the Hooipolder junction, replace the Merwede and Keizersveer bridges, and connect the roadway to the future Groote Haar business park in Gorinchem.

In this two-phase contract approach two-thirds of the scope will be developed by ALSÉÉN and Rijkswaterstaat to finalize the design during the project’s first phase, thereby allowing for full site investigations, complete design packages, advanced work packaging and negotiated subcontracts. This will then lead to a more refined scope of work, division of project risks and a more predictable second phase.

The A27 is one of the 10 busiest motorways in the Netherlands with more than 100,000 vehicles driving the route every day. The completed motorway should significantly ease traffic congestion when completed.

Preliminary project work is scheduled to be begin in 2023 with anticipated completion from 2029 to 2031. After completion, Ballast Nedam and Fluor will be responsible for maintaining the highway for 15 years.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world 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.

About Ballast Nedam

Ballast Nedam is a Dutch construction and development company with international influences. For over 145 years, we challenge ourselves to improve further. Every day. This is how we create added value for our clients and contribute to a safe and sustainable living environment. We are proud to be part of Rönesans Holding, number 9 in the list of Europe's largest international contractors. We are Ballast Nedam, We Challenge to Improve.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230112005800/en/

Brian Mershon

Media Relations

469.398.7621

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is the contract value of Fluor's A27 motorway project?

The contract value for the A27 motorway project is $436 million.

When will Fluor book the A27 project contract?

Fluor will book its share of the contract in the first quarter of 2023.

What is the expected completion date for the A27 project?

The anticipated completion date for the A27 project is between 2029 and 2031.

What improvements will the A27 motorway project include?

The project includes widening nearly 25 miles of the motorway, repairing the Hooipolder junction, and replacing two bridges.

Who is Fluor Corporation partnering with for the A27 project?

Fluor is partnering with Ballast Nedam in the joint venture ALSÉÉN for the A27 project.