Fluor Corporation (NYSE: FLR) announced today that the Port Authority of
New York and New Jersey has awarded to Phoenix Constructors, a joint
venture for which Fluor serves as managing partner, the contract to
serve as construction manager/general contractor (CM/GC) for the World
Trade Center Transportation Hub project (WTC/Hub).
Phoenix Constructors is a joint venture consisting of Fluor Enterprises,
Inc., Slattery Skanska Inc., Bovis Lend Lease LMB, Inc., and Granite
Construction Incorporated subsidiary Granite Construction Northeast Inc.
Total project value is estimated at more than $1 billion and Fluor's
share amounts to 32.5 percent. Phoenix Constructors will work with the
Port Authority of New York and New Jersey to develop a guaranteed
maximum price for the project.
The WTC/Hub project will feature approximately 3,000 feet of pedestrian
tunnels, providing pedestrian connections to existing and future
transportation services, such as ferries at the World Financial Center
and Metropolitan Transportation Authority subway lines.
World-renowned architect Santiago Calatrava designed the facility's
station.
Under terms of the contract, Phoenix Constructors will assist the Port
Authority with the advancement of the WTC/Hub final design drawings and
construction documents. Fluor and its partners will perform a detailed
review of past and current design drawings for constructability, value
engineering and cost savings opportunities, and provide detailed cost
estimates that reflect current market conditions and pricing, to help
ensure that the project is constructed on schedule and within budget.
Initial work on this project will begin in early 2006, with beneficial
occupancy expected in 2009.
"We're extremely pleased to be selected for this monumental project,"
said Steve Dobbs, Fluor's group president of Industrial &
Infrastructure. "This new station will provide commuter rail travelers
access to various locations and transportation means in Lower Manhattan."
The majority of the project managed by Phoenix Constructors will be
subcontracted to qualified firms with Phoenix Constructors
self-performing select portions of the project.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the
fields of engineering, procurement, construction, operations,
maintenance and project management. Headquartered in Aliso Viejo,
California, Fluor is a FORTUNE 500 company with revenues of $9.4 billion
in 2004. For more information, visit www.fluor.com.
Leann Vandergrift/Lisa Boyette
Media Relations
949.349.7420/3652
Ken Lockwood
Investor Relations
949.349.3815 tel
949.349.5375
fax
Media, Leann Vandergrift, +1-949-349-7420, or Lisa Boyette,+1-949-349-3652, or Investors, Ken Lockwood, +1-949-349-3815, or fax,+1-949-349-5375, all of Fluor Corporation//Web site: http://www.fluor.com/