IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Windsor Essex Mobility Group (WEMG), an equity consortium of Fluor Canada Ltd. (Fluor), ACS Infrastructure Canada Inc (ACSIC), and Acciona Concessions Canada Inc (Acciona), each with a one-third share, reached financial close on the Windsor-Essex Parkway project in Canada. In November 2010, WEMG was named the preferred proponent for the finance, design, construction, operations and maintenance of the Windsor-Essex Parkway. Fluor will book its portion of the $1.2 (CAD) billion project into backlog in the fourth quarter of 2010.
In addition to its role on the equity consortium, Fluor is also a member of Parkway Infrastructure Constructors (PIC), the design-build joint venture which will perform the design and construction activities for the Parkway project in conjunction with a team of local subcontractors. PIC includes Fluor, Dragados Canada and Acciona Infrastructures Canada, each which also has a one-third share. PIC expects to receive a notice to proceed with design and construction from WEMG the first week of January 2011.
"We are extremely pleased to be able to reach financial close ahead of schedule and advance this high profile project into the design and construct phase for the citizens of Ontario," said Patrick Flaherty, senior vice president of Fluor's Infrastructure business line.
The Windsor-Essex Parkway represents the most significant single highway investment in Ontario's history. The project will be an approximately 11-kilometer, six-lane, below-grade freeway featuring wide cut and cover tunnels, connecting bridges, and earth-retaining structures. The project will also include construction of surrounding local service roads, interchanges, landscaped parklands, and recreational walking and cycling trails. Unique to this project will be the public parks and other landscaped green spaces that will be built on top of the tunnels and adjacent to the roadway. In total, the project will include more than 300 acres of green space and 20 kilometers of recreational trails. The Parkway will be a publicly owned highway, and not a toll road.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenues of $22 billion in 2009. For more information visit www.fluor.com.
Fluor CorporationMedia RelationsKeith Stephens, 469-398-7624orBrian Mershon, 469-398-7621orInvestor RelationsKen Lockwood, 469-398-7220orJason Landkamer, 469-398-7222