Fluor Announces Financial Close on A27/A1 Motorway Project in the Netherlands
October 05 2016 - 3:03AM
Business Wire
Fluor Corporation (NYSE: FLR) announced today that the 3Angle
B.V. special purpose company, comprised of Fluor, 3i Infrastructure
and Heijmans Capital, reached financial close with the Dutch
government for the A27/A1 public private partnership (PPP) project
in the Netherlands. The project is valued at more than $246
million, which includes a 25-year management and maintenance
period. Fluor will book its portion of the award in the fourth
quarter of 2016.
3Angle is responsible for the financing, design, construction,
management and maintenance of the reconstruction of the A27
motorway between Utrecht North and the Eemnes Junction, as well as
the A1 motorway between the Eemnes Junction and the
Bunschoten-Spakenburg interchange. Fluor and Heijmans will provide
engineering, procurement, construction (EPCM) services and
operations and maintenance during the operational phase with equal
shares.
“Fluor and our partners are pleased to have achieved financial
close on this important upgrade project,” said Hans Dekker,
president of Fluor’s Infrastructure business. “We look forward to
using our PPP infrastructure and design build expertise to
successfully deliver this project with cost and schedule
certainty.”
The financing consists in part of loan capital and in part
equity. The loan was made available by DZ Bank AG; ING Belgium
SA/NV; KBC Bank NV; Nederlandse Waterschapsbank N.V. and Sumitomo
Mitsui Banking Corporation. KBC Bank also serves as the agent for
the financiers. The three 3Angle shareholders provided equal shares
of the equity.
The Directorate-General for Public Works and Water Management of
the Netherlands [Rijkswaterstaat] is undertaking the project to
improve safety and traffic flow on the A27 and A1 motorways while
respecting the surrounding natural environment. The project
includes widening the A27 motorway to two three-lane traffic lanes;
widening the A1 motorway to two four-lanes and increasing capacity
at the A27/A1 connecting curve within the Eemnes Junction.
Construction is due to be completed by the end of 2018 when the
25-year maintenance period will commence.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering,
procurement, fabrication, construction and maintenance company that
designs, builds and maintains capital-efficient facilities for its
clients on six continents. For more than a century, Fluor has
served our clients by delivering innovative and integrated
solutions across the globe. With headquarters in Irving, Texas,
Fluor ranks 155 on the FORTUNE 500 list with revenue of $18.1
billion in 2015 and has more than 60,000 employees worldwide. For
more information, please visit www.fluor.com or follow us on
Twitter @FluorCorp.
About Heijmans
Heijmans is a listed company that combines activities related to
property development, residential building, non-residential
building, roads and civil engineering in the areas of living,
working and connecting. Heijmans is active in the Netherlands,
Belgium and Germany and as a technology partner delivers know-how
and concepts in various markets. Our constant focus on quality
improvements, innovation and integrated solutions enables us to
generate added value for our clients. Heijmans realises projects
for private consumers, companies and public sector bodies. With
almost 6,500 employees and close to €950 million in revenues in the
first half of 2016, we are building the spatial contours of
tomorrow. You will find additional information on
www.heijmans.nl.
About 3i Infrastructure
3i Infrastructure 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.
The Company’s market focus is on economic infrastructure and
greenfield projects in developed economies, principally in Europe,
investing in operating businesses and projects which generate
long-term yield and capital growth. 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.
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Fluor CorporationGlobal Media RelationsBrian Mershon,
469-398-7621orBrett Turner, 864-281-6976orInvestor RelationsGeoff
Telfer, 469-398-7070orJason Landkamer, 469-398-7222orEAME Media
RelationsJanet Kearns, +44 1252 292039/+44 7802 373466
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