Fluor, Transurban Join Va. DOT On $925M Highway Project

Law360, New York (August 1, 2012, 2:57 PM EDT) -- The Virginia Department of Transportation has inked a public-private partnership agreement with the U.S. arms of global infrastructure heavyweights Fluor Corp. and Transurban Group for a $925 million project to build new express lanes on highly trafficked Interstate 95, it announced Tuesday.

Partnering with 95 Express Lanes LLC, a joint venture between Fluor Enterprises Inc. and Transurban Drive USA Investments LLC, the DOT will maintain ownership of the roads and oversee the construction. But the private companies will take on the bulk of the financing with...
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