BBY Balfour Beatty plc

Balfour Beatty US Joint Venture Awarded $625 Million Design-Build Project for Texas Department of Transportation

Balfour Beatty US has been selected by the Texas Department of Transportation (TxDOT) to undertake the $625 million Southern Gateway reconstruction and improvement project as part of a design-build joint venture with Fluor Corporation. The project is located along Interstate 35E and U.S. 67 in Dallas, Texas.

The purpose of The Southern Gateway project is to improve safety, congestion relief, traffic operations, address roadway deficiencies, and improve system linkage. The project will rebuild and widen Interstate 35E (I-35E) south of downtown Dallas. The 11-mile project will expand I-35E from four lanes to five lanes in each direction, and build two reversible, non-toll express lanes in the center of the corridor. In addition, the project calls for rebuilding the I-35E/U.S. 67 interchange and widening U.S. 67 from I-35E to I-20 by adding a third lane in each direction.

“We’re honored to have been selected by TxDOT to deliver this complex design-build transportation project in partnership with Fluor,” said Ray Bond, president and chief executive officer of Balfour Beatty US. “As we near delivery of the $798 million Horseshoe project for TxDOT in Dallas in partnership with Fluor, we are pleased for the opportunity to continue our work to help the state achieve its long-term transportation needs in a fast-growing metropolitan area.”

TxDOT’s Texas Clear Lanes initiative serves as a major source of funding for The Southern Gateway project, which is a program that prioritizes funding for congestion relief projects in Texas’ metropolitan areas. The project will also enhance safety by rebuilding and smoothing out existing sharp curves, adding shoulders, and improving entrance and exit ramp movements. The project will help improve traffic flow for 180,000 motorists per day in southern Dallas county and is expected to begin in late 2017 with a projected completion date of 2021.

About Balfour Beatty US

Balfour Beatty US 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, the company is the US subsidiary of London-based Balfour Beatty plc (LSE: BBY), a leading international infrastructure group that finances, develops, builds and maintains complex building programs focused on social and commercial buildings, power and utility systems, and transportation. Consistently ranked among the nation’s largest building contractors, Balfour Beatty US is the No. 3 Domestic Building Contractor as ranked by Engineering News-Record. To learn more, visit www.balfourbeattyus.com and www.bbiius.com.

EN
04/05/2017

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Balfour Beatty plc

Balfour Beatty: 1 director

A director at Balfour Beatty sold 317,071 shares at 448p and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...

Liberum Research Team
  • Liberum Research Team

LIBERUM: Morning Comment

New Energy Outlook, Compass Group, Balfour Beatty, JD Wetherspoon, THG Holdings, FirstGroup, CMO Group, Market Highlights

Liberum Research Team
  • Liberum Research Team

LIBERUM: UK Small & Mid Cap Dispatches

New Energy Outlook, Balfour Beatty, JD Wetherspoon, THG Holdings, FirstGroup, CMO Group, SMID Market Highlights

Alex O’Hanlon ... (+2)
  • Alex O’Hanlon
  • Joe Brent

LIBERUM: Balfour Beatty - Trading in line with Construction strong out...

Trading statement guides to trading in line; we maintain our FY 23 FD EPS of 34.9p, and assume an H1 EPS weighting of 45%. Despite a working capital outflow at the top of the target range, we maintain our average FY 23 net cash estimate of £750m. 1) The order book has nudged down from £17.4bn at FY 22 to £17.0bn due to the order burn on HS2, and there have been delays on key programmes like HS2, and the Thames Crossing and Smart Motorways has been cancelled. 2) At Construction, there is a positi...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch