Mar 2 2011
Michael Baker Jr., Inc., a unit of Michael Baker Corporation (NYSE Amex:BKR), announced today that, as part of a joint venture (JV) team consisting of Webber LLC (Webber) and Texas Sterling Construction Company, it has been selected as the best-value proposer by the Central Texas Regional Mobility Authority (Mobility Authority) to design and build a 6.2-mile section of the Manor Expressway, northeast of Austin, Texas.
The JV, operating under the name Central Texas Mobility Constructors, includes design participants Michael Baker Jr., Inc., and Bridgefarmer & Associates, Inc., and independent construction quality management participant Raba-Kistner Consultants, Inc. Central Texas Mobility Constructors was among four shortlisted developers who submitted detailed technical and price proposals to the Mobility Authority. The Mobility Authority scored each proposer based on criteria including technical abilities, pricing and schedule. Central Texas Mobility Constructors scored highest overall and was selected as the best-value proposer by the Mobility Authority Board, subject to negotiation of a design/build Comprehensive Development Agreement.
Central Texas Mobility Constructors proposed to substantially complete the project within 955 days of issuance of a Notice to Proceed at a price of $207.3 million. Before issuance of a Notice to Proceed, the Mobility Authority must first complete financing for the project, estimated at approximately $500 million. The Mobility Authority expects to sell bonds in April 2011 with financial closing tentatively set for May 2011. If financing proceeds as planned, construction could begin by June 2011.
Source: http://www.mbakercorp.com/