Governor and Dignitaries Conduct Ribbon-Cutting for New Express Lanes
Fluor Corporation (NYSE: FLR) announced today that Capital Beltway
Express LLC, a concession formed by Fluor and Transurban, has reached
substantial completion for the new I-495 Express Lanes in Northern
Virginia. Designed and built to relieve traffic congestion around the
greater Washington, D.C. area, the four new high occupancy toll (HOT)
lanes project was financed through an innovative public-private
partnership between Fluor, Transurban and the Virginia Department of
Transportation (VDOT).
The early opening was celebrated today with a ribbon cutting ceremony
that was attended by numerous federal, state and local elected and
appointed officials including Virginia Governor Bob McDonnell and
Federal Highway Administrator Victor Mendez along with Fluor and
Transurban representatives and members of the project team.
"The opening of the 495 Express Lanes means opportunity for Virginia,"
said Governor Bob McDonnell. "The project not only helped create jobs
during construction, but will continue to make Northern Virginia a more
attractive place to work and live. The Express Lanes will open the
region for business by providing better access to key employer centers
and delivering the infrastructure needed to grow businesses and create
additional jobs."
"Fluor's innovative design-build solutions allowed the project to finish
ahead of schedule, under budget and save several hundred homes that
would have been impacted by the original plan," said Steve Dobbs, senior
group president for Fluor's Industrial & Infrastructure Business Group.
"We are especially gratified to be able to positively impact the local
economy by opening the project early and supporting local businesses
during one of their busiest shopping times of the year."
“Fluor is pleased to reach this important milestone and see the Express
Lanes open a month ahead of schedule for local motorists,” said Herb
Morgan, senior vice president of Fluor’s Infrastructure business.
“Working with our colleagues at VDOT has been a pleasure and we look
forward to building on those relationships as we commence the adjoining
I-95 project.”
“The public-private partnership method, used to bring the I-495 project
to fruition, is an excellent example of how industry can successfully
partner with government agencies to deliver needed improvements to state
and local infrastructure,” said Morgan.
The 495
Express Lanes project spans 14 miles of the Capital Beltway in
northern Virginia just outside of the nation’s capital. Completing the
new lanes required the replacement of more than 57 bridges and upgrades
to 12 key interchanges.
The project began in 2007 when Fluor-Transurban signed a Comprehensive
Development Agreement with VDOT to design, construct, finance, and
operate the new Express Lanes system. After a series of public meetings
and environmental studies, the project was approved, funded, and
construction began in the summer of 2008.
“We are proud of the hard work and dedication from our project team to
make this project a success,” said Mitch Lester, Fluor’s I-495 project
director. “The Capital Beltway is the second-highest traveled roadway in
the nation, and the new Express Lanes will relieve a great deal of the
current traffic congestion. We are appreciative of all the stakeholders
in the region – local elected officials, businesses owners and the
travelling public – who were patient and worked with us during this
five-year project.”
While completing the new Express Lanes, the Fluor-Lane design-build team
reached a safety milestone in September 2012 by completing 5 million
safe work hours without a lost time incident. The construction team
achieved this success while working on an active highway on which more
than 200,000 vehicles travel in and around the work zone each day.
For more information on the I-495 Express Lanes project and details on
how to use the new lanes, please visit www.495expresslanes.com.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the
world's most challenging and complex projects. Founded in 1912, the
company was started by John Simon Fluor Sr. with a modest investment of
$100. Since those humble beginnings, the company has grown into one of
the largest engineering & construction companies in the world. Fluor is
celebrating its 100th anniversary during 2012.
Today, through its global network of offices on six continents, the
company provides comprehensive capabilities and world-class expertise in
engineering, procurement, construction, commissioning, operations,
maintenance and project management. Headquartered in Irving, Texas,
Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011.
For more information, visit www.fluor100.com
and www.fluor.com.
Fluor CorporationMedia RelationsKeith Stephens, 469-398-7624orBrian Mershon, 469-398-7621orInvestor RelationsKen Lockwood, 469-398-7220orJason Landkamer, 469-398-7222