Fluor and Balfour Beatty JV targets $1.7bn US highways contract
Fluor and Balfour Beatty’s joint venture has been conditionally awarded a contract worth $1.7bn to upgrade an 11 mile stretch of Texas highway north and east of Dallas.
Balfour Beatty has a 45% share in the joint venture with Fluor Corporation holding 55%. Works include the reconstruction and widening of 11-miles of the interstate highway around the North and East of Dallas in Texas, including the I-30 interchange, as well as the construction of service roads and numerous intersection improvements along the route.
When complete, the interstate highway will consist of 12 lanes in total, widening the general-purpose lanes from eight to ten as well as two reconstructed existing, tolled managed lanes. The completed scheme will improve safety and reduce congestion for over 200,000 drivers who use the interstate daily.
Leo Quinn, Balfour Beatty Group Chief Executive, commented: “Following the successful delivery of the Dallas Horseshoe project, and the continued delivery of the Southern Gateway project, this latest contract award from the Texas Department of Transportation demonstrates our market leading capabilities.
“With over half of Balfour Beatty’s construction revenue generated from our US operations, we continue to strengthen our business, benefiting from strong competitive positions in our chosen large and growing infrastructure markets,” added Quinn.
Full contract award is expected in autumn 2019 with works expected to commence in early 2020, and substantial completion scheduled for late 2024. At construction peak, the joint venture will employ a workforce of around 500.