Fluor and its partners, Transurban and Lane Construction, achieved great success on infrastructure projects in the Northern Virginia area to help alleviate traffic congestion and to provide commuters with new options.
The principal components of the I-95 project financing included approximately $253 million in Private Activity Bonds; $300 million in a federal TIFIA loan that is expected to close in the fourth quarter of 2012; $292 million from Transurban and Fluor; $71 million in public funds from VDOT; and $9 million in other funds.
The key components of I-95 construction project included:
- Performing structural bridge work including building five new bridges, four new fly over ramps, three widened bridges and 15 bridge/ramp repairs;
- Building a new 9-mile roadway extension consisting of major clearing, earthwork, drainage improvements and bridge fly overs;
- Installing more than 700 miles of cable and wire and more than 1,000 tolling and traffic management devices;
- Placing more than 1 million square feet of sound walls;
Over the life cycle of the project, the 95 Express Lanes supported nearly 12,600 jobs in Virginia and generated approximately $1.5 billion in economic activity. The project put more than 500 businesses to work and infused more than $200 million into disadvantaged, small, women and minority-owned business enterprises.
During the construction of the 95 Express Lanes, the Fluor-led joint venture, Fluor-Lane 95, LLC, was able to achieve more than 3.8 million safe work hours without a lost time incident. The team maintained an OSHA recordable rate of 0.41, substantially below the industry national average of 3.6. This rating makes the project one of the safest ever in the U.S.