Subscribe to Flatiron's News FeedFlatiron to Execute $1.9 Billion Contract for New Port Mann Bridge in Vancouver
(Longmont, Colo.) February 27, 2009 - The Province of British Columbia will enter into a $1.93 billion (C$2.46 billion) contract with the Kiewit-Flatiron general partnership to design and build the new Port Mann Bridge over the Fraser River in Vancouver. Flatiron holds a 27.5 percent share of the contract.
The joint venture team will design and build the new Port Mann Bridge, a cable-stayed bridge that will increase the crossing's capacity from four to ten lanes. Work also includes upgrading a total of 23 miles of Highway 1 on each side of the Fraser River. The new bridge will alleviate the nearly 14 hours of traffic congestion on the existing bridge and reduce travel times by up to 30 percent. The project is expected to be complete by 2013.
"Last year we delivered a new segment of the Trans-Canada Highway 1 through Kicking Horse Canyon to the Province well ahead of schedule. We look forward to another successful project with our partners, the Province and the residents of the lower mainland," says Bob French, Flatiron's chief operating officer.
The Port Mann/Highway 1 project is part of the Province's larger Gateway Program.
With a sales volume of $752 million in 2007, Flatiron is one of the leading providers of transportation construction and civil engineering in North America. Its core competencies include major bridge, highway, and rail projects. In Canada, Flatiron also operates as a contractor in public-private partnership projects. Founded in 1947, the firm is a subsidiary of HOCHTIEF, one of the world's leading international construction service providers. Further information is available at www.flatironcorp.com.
HOCHTIEF is one of the leading international providers of construction-related services. With more than 52,000 employees and a sales volume of EUR 16.45 billion in FY 2007, the company is represented in all the world‘s major markets. The Group's service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 55 percent), the group is market leader in Australia. Further information is available at www.hochtief.com/press.