Fluor Corporation (NYSE: FLR) announced today that IXAS Zuid-Oost B.V.,
a special purpose company including Fluor, Ballast Nedam, Heijmans
Capital and 3i Infrastructure plc, has reached financial close for the
A9 public-private-partnership infrastructure project in the Netherlands.
The project includes the design, build, management, maintenance and
financing of the existing and new infrastructure of the A9 motorway
between Diemen and Holendrecht in the Netherlands. Fluor will book its
share of the US$865 million project in the fourth quarter of 2014.
“Fluor looks forward to working with its partners in executing the
reconstruction and expansion of the A9 motorway in the Netherlands,”
said Terry Towle, president of Fluor’s Infrastructure business line.
“Fluor has been operating through its major operations center in the
Netherlands for more than 50 years, and we intend to bring the full
strength of the company’s resources to this important transportation
project near Amsterdam.”
The project work includes the bridge over the river Gaasp, the road
surface on the A9 Gaasperdammerweg and the construction of an
approximately three kilometre cut-and-cover tunnel. The A9
Gaasperdammerweg project is the third section of the
Schiphol-Amsterdam-Almere (SAA) road expansion.
With this milestone, the required project financing comprised of debt
and equity, is secured. The short-term debt of €140 million and half of
the long term debt of around €410 million has been made available to the
project by BNG Bank, DZ BANK, ING, KBC, SMBC and Société Générale. The
European Investment Bank will provide the other half of the long-term
debt. The equity investment will be made by the four shareholders of
IXAS Zuid-Oost B.V., with an equal share each.
The project has a total nominal value of approximately US$865 million
including a 20-year management and maintenance period after the new
infrastructure becomes available. Fluor, Ballast Nedam and Heijmans will
participate in the construction and operations phase at an equal
one-third share. The original contract with Rijkswaterstaat, the
Ministry of Infrastructure and the Environment, was signed in September
2014.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering and construction
firm that designs and builds some of the world's most complex projects.
The company creates and delivers innovative solutions for its clients in
engineering, procurement, fabrication, construction, maintenance and
project management on a global basis. For more than a century, Fluor has
served clients in the energy, chemicals, government, industrial,
infrastructure, mining and power market sectors. Headquartered in
Irving, Texas, Fluor ranks 109 on the FORTUNE 500 list. With more than
40,000 employees worldwide, the company's revenue for 2013 was $27.4
billion. Visit Fluor at www.fluor.com
and follow on Twitter @FluorCorp.
About Ballast Nedam
Ballast Nedam targets its strategic focus at successfully acquiring and
carrying out integrated projects in the working areas of housing,
mobility, energy and nature in the Netherlands and internationally. We
will expand related activities in niche markets and work on projects
where we can make a difference for the client with our expert knowledge
and skills. Ballast Nedam applies a differentiated market approach for
its three divisions. With further industrialization of the building
process through the use of innovative modular concepts and
standardization Ballast Nedam creates enduring quality at the lowest
possible life cycle costs for its clients and society. The Ballast Nedam
share is included in the Amsterdam Small Cap Index (AScX) of NYSE
Euronext. www.ballast-nedam.com.
About Heijmans
Heijmans is a listed company that combines activities in the fields of
property development, residential building, non-residential, roads and
civil. Heijmans is active in the Netherlands, Belgium and Germany. Our
focus on integrated projects and quality execution enables us to create
added value for our clients. Heijmans realises integrated projects for
major clients such as companies and public sector bodies, as well as
homes for investors and private home buyers. With more than 7,100
employees and more than €820 million in revenues in the first half of
2014, we are building the spatial contours of tomorrow.
For more information, please visit www.heijmans.nl.
About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment
company, listed on the London Stock Exchange and regulated by the Jersey
Financial Services Commission. The Company is a long-term investor in
infrastructure businesses and assets. Its strategy is to maintain a
balanced portfolio of investments in order to deliver stable returns to
its shareholders, through a mix of income and capital appreciation. Its
objective is to provide shareholders with a total return of 10% per
annum and, within that overall objective, it targets an annual
distribution yield of 5.5%. The Company’s market focus is on core
economic infrastructure in developed economies, principally in Europe,
in the utilities and transportation sectors, investing in operational
businesses which generate long-term yield and can provide capital
growth. It also has investments in social infrastructure and is building
its exposure to primary PPP and renewable energy projects. 3i
Investments plc, a wholly-owned subsidiary of 3i Group plc, is
authorised and regulated in the UK by the Financial Conduct Authority
and acts as Investment Adviser to 3i Infrastructure plc.
Fluor CorporationMedia Relations:Brian Mershon, 469-398-7621orEric Krantz, 281-263-6030orInvestor Relations:Ken Lockwood, 469-398-7220orJason Landkamer, 469-398-7222