Fluor Corp. (FLR) said that the Utah Department of Transportation selected Provo River Constructors, a Fluor-led joint venture, as the team with the best fixed-price, best-design proposal for the expansion of the I-15 Corridor Reconstruction project. The design-build contract value is expected to be in the range of $1.1 billion.
The proposed scope of work is along a 23-mile stretch of the existing interstate in Utah County. I-15 is the major north-south commuter route between Salt Lake City and the Provo/Orem region.
Fluor will book its 40% share of the project into backlog when the contract is signed and all material financing uncertainties have been resolved, which is expected to be no later than the first quarter of 2010.
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