Fluor-Led Joint Venture Selected as Preferred Developer for Loop 202 South Mountain Freeway in Phoenix Metro Area

Fluor to construct 22 miles of Loop 202, Arizona’s largest ever highway project

Fluor Corporation (NYSE: FLR) announced today that its joint venture team was selected as the preferred bidder for a design-build and maintain project by the Arizona Department of Transportation (ADOT) to provide design, construction and maintenance services for the Loop 202 South Mountain Freeway. Located in the Phoenix metropolitan area, this will be the largest highway project in the state’s history. Fluor plans to book its share of the final contract value in the first quarter of 2016.

The Fluor-led joint venture, Connect 202 Partners, is a design-build and maintenance partnership comprised of Fluor Enterprises Inc., Granite Construction Co., Ames Construction Inc., Parsons Brinckerhoff Inc. as the lead designer, and DBi Services, LLC, as the joint maintenance partner.

The joint venture team will construct approximately 22 miles of Loop 202 running east and west along Pecos Road, turning north between 55th and 63rd avenues, connecting with Interstate 10 on each end. Major construction is expected to begin in the summer of 2016 with lanes opening in late 2019 or early 2020. Fluor and DBi Services, LLC, will maintain the lanes for 30 years with oversight from ADOT.

The Loop 202 South Mountain Freeway Project will deliver improved mobility via four lanes in each direction – three general-use lanes and one High-Occupancy Vehicle (HOV) lane – and includes modern features of rubberized asphalt and aesthetics designed in partnership with the community.

“The selection of the Fluor-led joint venture to deliver Arizona’s largest highway project in its history is a testament to Fluor’s strong track record of safely delivering innovative public-private partnership (P3) projects and solutions to our clients,” said Hans Dekker, president of Fluor’s infrastructure business. “We plan to continue our industry-leading performance to deliver Arizona’s first highway P3 project with the cost and schedule certainty the state expects.”

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 40,000 employees worldwide, the company's revenue for 2014 was $21.5 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.

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Fluor CorporationMedia RelationsBrian Mershon, 469-398-7621orBrett Turner, 864-281-6976orInvestor RelationsGeoff Telfer, 469-398-7070orJason Landkamer, 469-398-7222