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Washington Group International Awarded $82.6 Million Contract
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01/16/2005
BOISE, Idaho---Aug. 5, 2003--Washington Group International, Inc. (Nasdaq:WGII - News) today announced that it has received an $82.6 million contract to construct an interchange and six-lane connector on the I-215 Southern Beltway near Las Vegas.
The contract was awarded by the Nevada Department of Transportation and is the second major project won by Washington Group in the past year to build segments of the beltway around the Las Vegas metropolitan area. The company is currently working on a five-mile segment of the northern section of the beltway.
"We certainly appreciate this latest opportunity to work for a long-time client in one of the fastest growing regions in the country," said Stephen G. Hanks, Washington Group president and chief executive officer. "Our Las Vegas-based team has a great record of performance and we're pleased that our clients in Nevada have once again put their faith in Washington Group with this important piece of their regional infrastructure."
The freeway project will include a multi-layered interchange linking two sections of Interstate highway: I-215 and I-515. It also includes a two-mile, six-lane connector between I-515 and Stephanie Street -- a major north-south thoroughfare -- in Henderson, Nevada. Construction on the project will begin in September and is expected to last approximately 28 months.
Earlier this year, a joint venture led by Washington Group received a $270-million contract to design and build a 10-mile-long privately funded toll-road section of State Route 125 in San Diego, California -- making Washington Group one of the largest major highway constructors and developers in the western United States.
Other recent highway projects completed by company joint ventures include the 42-mile-long E-470 Toll Road in Denver and the reconstruction of I-15 through Salt Lake City, Utah -- the largest design-build highway project ever completed in the United States.
Washington Group International, Inc. provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide.
With approximately 30,000 employees at work in over 40 states and more than 30 countries, the company provides premier science, engineering, construction, operations, program-management, and development services in 15 major markets.
Markets Served
Energy, consumer products, environmental, government, heavy civil, industrial, manufacturing, mining, nuclear services, facilities management, process, telecommunications, transportation, water resources, and weapons demilitarization.
This news release contains forward-looking statements within the meaning of the private securities litigation reform act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof or other variations thereof. Such forward-looking statements are necessarily based on various assumptions and estimates and are inherently subject to various risks and uncertainties, including risks and uncertainties relating to the possible invalidity of the underlying assumptions and estimates and possible changes or developments in social, economic, business, industry, market, legal, and regulatory circumstances and conditions and actions taken or omitted to be taken by third parties, including the corporation's customers, suppliers, business partners, and competitors and legislative, regulatory, judicial, and other governmental authorities and officials.
