Fluor Daniel, together with Morrison Knudsen, announced today that their
conceptual proposal was selected by the Commonwealth Transportation
Board of Virginia, to establish a limited liability company to finance,
design, construct and operate the I-895 connector road near Richmond,
Virginia. The cost for the connector road is currently estimated in
excess of $250 million. The project is subject to the negotiation of
definitive contracts, the obtaining of financing and requires regulatory
approvals.
The Fluor Daniel/Morrison Knudsen team is currently developing a
detailed proposal which is scheduled to be submitted to the Virginia
Department of Transportation (DOT) by June. The proposal will be
reviewed by the public/private transportation advisory panel and upon
approval, forwarded to the commissioner to negotiate the definitive
contract.
"The Fluor Daniel/Morrison Knudsen proposal represents the first capital
project under Virginia's new proposed public/private transportation
law," said Shirley Ybarra, deputy secretary of the Virginia DOT. "It
will serve as a model for future transportation projects in our state."
Ron Oakley, president of Fluor Daniel's Infrastructure operating company
said, "Our team is pleased to participate in this first-of-a-kind
privatization project in Virginia. Together, we will provide world-class
design, engineering and construction expertise as well as project
financing capabilities to this important project."
The I-895 connector road consists of eight miles of divided roadway and
a high-level bridge over the James river. It will connect Chippenham
Parkway and I-95 on the west side of the river with Laburnum Avenue and
I-295 on the east side of the river.
Fluor Daniel and Morrison Knudsen are currently providing design and
construction services for the E-470 Public Highway Authority in
Englewood, Colorado. In addition, Fluor Daniel's Infrastructure
operating company is leading a consortium selected by the Florida
Department of Transportation to develop the first high-speed rail system
in the United States.
Fluor Daniel, Inc., the principal subsidiary of Fluor Corporation, is a
global engineering, construction and diversified services company with
more than 50 offices worldwide.
