Fluor-led Joint Venture Selected for I-35 NEX South Project in San Antonio
Fluor Corporation (NYSE: FLR) announced today that Lone Star Constructors, a Fluor-led joint venture, was selected as the design, construction and capital maintenance contractor for the Interstate 35 (I-35) Northeast Expansion (NEX) South Project in San Antonio, Texas, by the Texas Department of Transportation (TxDOT). Fluor expects to recognize the approximately $700 million contract in the second quarter of 2023.
"This award builds on our more than 20-year history of successfully delivering major highway projects in Texas," said Shawn West, president of Fluor’s Infrastructure business. "The I-35 NEX South Project is a crucial step in our ongoing efforts to enhance the state's transportation infrastructure and to further support the demands of population growth and business expansion in one of America's most rapidly developing regions."
The I-35 NEX South Project will improve one of the most congested corridors in the state, currently used by more than 140,000 vehicles per day. The project scope includes the design and construction of approximately four miles of elevated lanes with corresponding interchanges and transitions at each end of the project. The project also includes a five-year capital maintenance term, with options for two additional five-year term extensions.
Construction is scheduled to begin in 2024 and be completed in 2028.
Lone Star Constructors, a joint venture between Fluor and Austin Bridge Road, is currently delivering the I-35E Phase 2 reconstruction and widening project in Dallas.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 40,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $13.7 billion in 2022 and is ranked 303 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.
#infra
View source version on businesswire.com: https://www.businesswire.com/news/home/20230731390560/en/
Fluor Corp. Stock
With 6 Buy predictions and not the single Sell prediction the community is currently very high on Fluor Corp..
On the other hand, the target price of 43 € is below the current price of 43.2 € for Fluor Corp., so the potential is actually -0.46%.
