Fluor Selected for Phase 2 of Interstate 35E Expansion Project in Dallas

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has been awarded a contract by the Texas Department of Transportation (TxDOT) in a joint venture with Austin Bridge & Road for the design, construction, and maintenance of Phase 2 of the I-35E project. The contract is valued at approximately $640 million and will be booked in Q3 2021. This 6.3-mile project includes expanding existing lanes and reconstructing frontage roads. Construction is set to start in late 2021, with expected completion in late 2025.

Positive

• Awarded a $640 million contract by TxDOT for I-35E project.
• Continued collaboration with TxDOT for over 20 years.
• Strategic focus on infrastructure projects in Texas.

Negative

• None.

Fluor Corporation (NYSE: FLR) announced today that its joint venture with Austin Bridge & Road was selected by the Texas Department of Transportation (TxDOT) to design, construct and maintain Phase 2 of the Interstate 35E (I-35E) project from I-635 in Dallas to the Denton County line in Carrollton, Texas. Fluor will book its share of the approximately $640 million contract value in the third quarter of 2021.

Fluor selected by TxDOT for Phase 2 of Interstate 35E Expansion Project in Dallas (Photo: Business Wire)

“This is a great example of Fluor’s continued strategic focus on infrastructure projects in Texas,” said Terry Towle, group president of Fluor’s Urban Solutions business. “We’ve continuously worked with TxDOT for the past 20 years. Fluor is pleased to have the opportunity to continue building on its long history in Texas.”

The 6.3-mile design-build project includes full reconstruction and expansion of six existing general purpose lanes to eight general purpose lanes with new auxiliary lanes at entrance and exit ramps, and the reconstruction of frontage roads along the corridor. The project also reconstructs the two existing, grandfathered reversible tolled managed lanes.

Construction is scheduled to begin in late 2021 with substantial completion anticipated in late 2025.

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 44,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $14.2 billion in 2020 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has been providing engineering, procurement and construction services for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

#infra

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005707/en/

FAQ

What is the value of the contract Fluor received from TxDOT for the I-35E project?

The contract value is approximately $640 million.

When is construction expected to begin on the I-35E project?

Construction is scheduled to begin in late 2021.

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

Substantial completion is anticipated in late 2025.

What are the key components of the I-35E project awarded to Fluor?

The project includes expanding existing lanes, adding new auxiliary lanes, and reconstructing frontage roads.

How long is the I-35E project that Fluor was awarded?

The project extends for 6.3 miles.