Fluor Corporation (NYSE: FLR) today announced that the Fluor-led
consortium, Poort van Den Bosch, has successfully completed construction
of The Netherlands' first public private partnership (PPP) contract for
road infrastructure.
The Dutch government's Minister of Transport, Mrs. Karla Peijs, and
executives from the Province of North-Brabant officially opened the new
motorway on Saturday, December 10. Completed within budget and one month
ahead of schedule, this essential infrastructure will relieve a traffic
bottleneck by turning an existing four-lane main road into a 5.5-mile
state highway between Rosmalen and Geffen.
"Construction of the A59 signifies the completion of a considerable
phase toward more involvement from the private sector in infrastructure
projects," said Mrs. Peijs. "PPP is a proficient way of tapping into the
market's innovative powers: the A59 proves that this works. The motorway
was not only built in record time but was funded in an innovative way
with lower costs than if the project was traditionally tendered."
The design, build, finance and maintain contract will last for 18 years
-- three years for design and construction and a 15-year maintenance
period. The contract payment system is based on availability to the
travelling public to ensure that maintenance work will cause the least
inconvenience to the road's users.
"Fluor and Poort van den Bosch have been committed to work for the
successful completion of this project, which demonstrates that the
partnership between government and the private sector can provide
essential infrastructure whilst reducing the pressure on public
finances," said Hans Dekker, director of Fluor Infrastructure Europe.
The Poort van Den Bosch consortium is a partnership between Fluor, Royal
BAM Group and Boskalis. The project is being financed with a combination
of sponsor equity and bank debt, which is being provided by ING and Bank
Nederlandse Gemeenten.
Fluor (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 nearly $9.4 billion in 2004. For
more information, visit www.fluor.com.
Leann Vandergrift/Lisa Boyette
Media Relations
949.349.7420/3652
tel
Janet Kearns
Media Relations
01932 246120/0208 222 7057 tel
0208
222 7059 fax
Media Relations, Leann Vandergrift, +1-949-349-7420, or LisaBoyette, +1-949-349-3652, or Janet Kearns, 01932 246120, or 0208 222 7057, orfax, 0208 222 7059, all of Fluor Corporation//Web site: http://www.fluor.com /