Nov 17 2014
Fluor Corporation announced today that IXAS Zuid-Oost B.V., a special purpose company including Fluor, Ballast Nedam, Heijmans Capital and 3i Infrastructure plc, has reached financial close for the A9 public-private-partnership infrastructure project in the Netherlands.
The project includes the design, build, management, maintenance and financing of the existing and new infrastructure of the A9 motorway between Diemen and Holendrecht in the Netherlands. Fluor will book its share of the US$865 million project in the fourth quarter of 2014.
“Fluor looks forward to working with its partners in executing the reconstruction and expansion of the A9 motorway in the Netherlands,” said Terry Towle, president of Fluor’s Infrastructure business line. “Fluor has been operating through its major operations center in the Netherlands for more than 50 years, and we intend to bring the full strength of the company’s resources to this important transportation project near Amsterdam.”
The project work includes the bridge over the river Gaasp, the road surface on the A9 Gaasperdammerweg and the construction of an approximately three kilometre cut-and-cover tunnel. The A9 Gaasperdammerweg project is the third section of the Schiphol-Amsterdam-Almere (SAA) road expansion.
With this milestone, the required project financing comprised of debt and equity, is secured. The short-term debt of €140 million and half of the long term debt of around €410 million has been made available to the project by BNG Bank, DZ BANK, ING, KBC, SMBC and Société Générale. The European Investment Bank will provide the other half of the long-term debt. The equity investment will be made by the four shareholders of IXAS Zuid-Oost B.V., with an equal share each.
The project has a total nominal value of approximately US$865 million including a 20-year management and maintenance period after the new infrastructure becomes available. Fluor, Ballast Nedam and Heijmans will participate in the construction and operations phase at an equal one-third share. The original contract with Rijkswaterstaat, the Ministry of Infrastructure and the Environment, was signed in September 2014.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that designs and builds some of the world's most complex projects. The company creates and delivers innovative solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 109 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company's revenue for 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.
About Ballast Nedam
Ballast Nedam targets its strategic focus at successfully acquiring and carrying out integrated projects in the working areas of housing, mobility, energy and nature in the Netherlands and internationally. We will expand related activities in niche markets and work on projects where we can make a difference for the client with our expert knowledge and skills. Ballast Nedam applies a differentiated market approach for its three divisions. With further industrialization of the building process through the use of innovative modular concepts and standardization Ballast Nedam creates enduring quality at the lowest possible life cycle costs for its clients and society. The Ballast Nedam share is included in the Amsterdam Small Cap Index (AScX) of NYSE Euronext. www.ballast-nedam.com.
About Heijmans
Heijmans is a listed company that combines activities in the fields of property development, residential building, non-residential, roads and civil. Heijmans is active in the Netherlands, Belgium and Germany. Our focus on integrated projects and quality execution enables us to create added value for our clients. Heijmans realises integrated projects for major clients such as companies and public sector bodies, as well as homes for investors and private home buyers. With more than 7,100 employees and more than €820 million in revenues in the first half of 2014, we are building the spatial contours of tomorrow.
For more information, please visit www.heijmans.nl.