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| Fluor team reaches financial close on Denver commuter rail project Fluor Corp announced that Denver Transit Partners (DTP), a Fluor-led team, reached financial close and received an official notice to proceed from the Regional Transportation District (RTD) in Denver, Colorado. DTP will design, build, operate, maintain and finance the Eagle P3 commuter rail project (Eagle Project) in the Denver metropolitan area. Fluor will book the project into backlog in the third quarter of 2010. The notice to proceed was given concurrently with reaching financial close in New York. DTP arranged for $452 million in private financing, including $397.8 million in Private Activity Bonds. DTP's concession contract includes the six-year design-build phase of the Eagle Project followed by 30-year period of privatized operations and maintenance. The Eagle Project is part of RTD's FasTracks Plan, a 12-year multi-billion dollar transit expansion program to build and operate new commuter and light rail services and expand transportation offerings throughout the eight-county area. Fluor's roles on the project include a 50 percent share of the engineering, procurement, and construction contract; a 33 percent share in the operations & maintenance contract as well as a 10 percent equity share in the concession's special purpose vehicle that raised the financing to fund the project. At the financial closing in New York, DTP partner Macquarie Capital conveyed its 90-percent interest to subsidiaries of two international infrastructure investment groups, John Laing plc and Uberior Investments, a unit of Lloyds Banking Group. Led by Fluor, John Laing plc, and Uberior Investments, the DTP team includes a world-class group of transit industry experts including Balfour Beatty Rail, Ames Construction, Hyundai-Rotem USA (Hyundai), Alternative Concepts, Inc. (ACI), Fluor/HDR Global Design Consultants, PBS&J, Parsons Brinckerhoff, Interfleet Technology, Systra, Wabtec and many others. write your comments about the article :: © 2010 Construction News :: home page |