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22/05/2008
Balfour Beatty Joint Venture Awarded $330m Project
Balfour Beatty, the international engineering, construction, services and investment group, has announced that Balfour Beatty Infrastructure Inc, its US civil engineering arm, has been awarded the $330 million design and build contract for the 281 North Toll highway project in joint venture with Fluor by the Alamo Regional Mobility Authority Board of Directors.
The Balfour Beatty joint venture, Cibolo Creek Infrastructure JV (CCI), will be responsible for the construction of two to three new non-toll lanes, beginning in the autumn of 2008. The first phase will involve a stretch from Loop 1604 to Stone Oak Parkway near San Antonio. The second phase involves work between Stone Oak Parkway and the Comal County line. After CCI completes the 7.9 miles of non-toll lanes, it will begin building three new toll lanes in each direction. The project is scheduled for completion 44 months after commencement.
Commenting on the award, Balfour Beatty Chief Executive, Ian Tyler, said: "We have been a leading road constructor in Texas for many years and this contract builds on our successful relationship with Fluor, with whom we worked in delivering the $1.1 billion SH130 project, near Austin. There is a very substantial forward road building programme in Texas using a range of financing techniques and Balfour Beatty Infrastructure, where appropriate in combination with Balfour Beatty Capital, is very well placed to play a major part in the future."
(CD/JM)
The Balfour Beatty joint venture, Cibolo Creek Infrastructure JV (CCI), will be responsible for the construction of two to three new non-toll lanes, beginning in the autumn of 2008. The first phase will involve a stretch from Loop 1604 to Stone Oak Parkway near San Antonio. The second phase involves work between Stone Oak Parkway and the Comal County line. After CCI completes the 7.9 miles of non-toll lanes, it will begin building three new toll lanes in each direction. The project is scheduled for completion 44 months after commencement.
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Commenting on the award, Balfour Beatty Chief Executive, Ian Tyler, said: "We have been a leading road constructor in Texas for many years and this contract builds on our successful relationship with Fluor, with whom we worked in delivering the $1.1 billion SH130 project, near Austin. There is a very substantial forward road building programme in Texas using a range of financing techniques and Balfour Beatty Infrastructure, where appropriate in combination with Balfour Beatty Capital, is very well placed to play a major part in the future."
(CD/JM)
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