Fluor Corporation (NYSE: FLR) confirmed today that the New York State Thruway Authority and the New York State Department of Transportation announced that Tappan Zee Constructors, a Fluor-led team consisting of Fluor Enterprises, Inc., American Bridge Company, Granite Construction Northeast, Inc., and Traylor Bros., Inc., was selected for the multi-billion dollar, design-build contract for the new Tappan Zee Hudson River Crossing Project.
Three design concepts and corresponding budgets were presented to the public by the Authority and New York’s Governor Andrew Cuomo on December 5, 2012, in Albany. Tappan Zee Constructors’ submission, shown as Proposal One, was recommended at that time by the Selection Committee. Today, the Authority’s Board of Directors made the final selection of the Tappan Zee Constructors’ proposal.
Based on its 30 percent ownership of the joint venture, Fluor will book its portion of the project into backlog once the contract receives final approval and a notice to proceed is issued.
"The combined experience of our team enabled us to put forward an attractive and cost competitive design," said Steve Dobbs, president of Fluor’s Industrial & Infrastructure Group. "We also will be able to leverage our recent successful bridge construction experiences, like the San Francisco-Oakland Bay Bridge, and our unique equipment capabilities in making this important project a reality."The 3.1-mile-long Tappan Zee Bridge connects Rockland County to Westchester County in the Lower Hudson Valley (approximately 25 miles north of midtown Manhattan) and is a vital transportation link that serves approximately 138,000 vehicles per day. The mega-project will be the single largest bridge project in New York’s history. It is the state’s first application of its recently enacted design-build legislation and has produced substantial savings relative to the $5.2 billion estimated cost. The Fluor team developed a unique and innovative design that reduced the weight of the structure and minimized the number and size of foundations required. The design solution also utilizes a shallow superstructure and a 350’ long-span design to minimize the number of piers and provide a sleeker looking bridge that enhances the view corridors within the lower Hudson Valley. The main span is a composite deck cable-stayed structural system with outwardly inclined main span towers that create an iconic look and accommodate future transit loads.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV