Last checked at 4 May 2017 13:00
News Release
04 May 2017
BALFOUR BEATTY JOINT VENTURE AWARDED $625 MILLION (c.£484m) SOUTHERN GATEWAY CONTRACT BY TEXAS DEPARTMENT OF TRANSPORTATION
Balfour Beatty, the international infrastructure group, has been awarded a $625 million (c. £484 million) contract to reconstruct and improve the 'Southern Gateway', an 11 mile stretch of road in Dallas, Texas.
The contract has been awarded in joint venture to Pegasus Link Constructors LLC, a joint venture between Balfour Beatty (45 per cent) and Fluor Corporation (55 per cent).
The Texas Department of Transportation awarded the contract as part of the Clear Lanes initiative, a programme that prioritises funding for congestion relief projects in Texas' metropolitan areas. The improvement scheme will improve road-user safety and relieve congestion for the 180,000 motorists who use the road each day through smoothing and rebuilding existing road elements, enhancing traffic operations and improving entrance and exit ramps. Works include increasing capacity on Interstate 35E (I-35E), south of downtown Dallas, rebuilding the I-35E/U.S.67 interchange and widening the U.S.67 from I-35E to I-20.
Leo Quinn, Balfour Beatty Group Chief Executive, said: "We are pleased to have been selected by the Texas Department of Transportation for the 'Southern Gateway'. This award recognises our expertise and track record for delivering complex design-build transportation projects following our successful delivery of the adjacent Dallas Horseshoe Project".
Construction is scheduled to start in late 2017 with completion scheduled for 2021. A workforce of approximately 700 will be employed at project peak.
ENDS
Analyst/investor enquiries:
Angus BarryTel. +44 (0)20 7216 6824angus.barry@balfoiurbeatty.com
Media enquiries:
Louise McCullochTel. +44 (0)20 7963 2150louise.mcculloch@balfourbeatty.com
Notes to editors:
· Balfour Beatty's US construction and infrastructure business is an industry-leading provider of general contracting, at-risk construction management and design-build services for public and private sector clients across the nation. Performing heavy civil and vertical construction. Consistently ranked among the nation's largest building contractors, Balfour Beatty's US business is the No. 3 Domestic Building Contractor as ranked by Engineering News-Record. To learn more, visit www.balfourbeattyus.com and www.bbiius.com.
· Balfour Beatty was previously selected by the Texas Department of Transportation (TxDOT) as a joint venture partner with Fluor Corporation for a major US$798 million design-build project in Dallas, Texas. The scope of work called for upgrading and replacing the I-30 and I-35E bridges that cross the Trinity River, building additional lanes, as well as constructing the previously designed Margaret McDermott bridges. The project was dubbed the "Horseshoe Project" due to its U-shape. The project is scheduled for completion in 2017.
· Balfour Beatty (www.balfourbeatty.com) is a leading international infrastructure group. With 30,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.
· Our main geographies are the UK, US and the Far East. Over the last 100 years we have created iconic buildings and infrastructure all over the world, including the London Olympics' Aquatic Centre, Hong Kong's first Zero Carbon building, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.