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KBR SIGNS CONTRACT FOR THE CZECH REPUBLIC'S D47 MOTORWAY
LONDON - Kellogg Brown & Root (KBR), in consortium with others, has signed a contract with the Czech Government for a 30-year concession to design, build, finance and operate the D47 motorway in the Czech Republic. KBR (formerly known as Brown & Root) is the engineering and construction subsidiary of Halliburton Company (NYSE: HAL).
The US$1.5 billion 80km motorway, part of the Trans-European Network of motorways linking the Baltic with the Balkans, will connect Ostrava on the Polish border with the existing motorway network at Lipnik Nad Becvou. Financial close for the project is scheduled for autumn 2002. This is the first highway project in the Czech Republic to be procured using a payment structure based on shadow tolls.
John Evans, chief operating officer for KBR's Infrastructure business in Europe and Africa said: 'We recognise that the D47 project forms a key link in the Czech Republic's highway infrastructure and economic development strategies and are pleased to be working on this important project. We look forward to working alongside the Czech Government and with our consortium partners to ensure that the motorway is completed safely and expeditiously.'
The project has been developed in consortium with Housing & Construction Holding Co Ltd., Bauholding Strabag and Shiran. KBR will own 31% of the project company, together with 33% of the construction and operating joint ventures.
Subject to financial close, the first phase of the project, with a construction value of US$1 billion, will commence in September 2002. The motorway is expected to be open to traffic in early 2007.
The contract was signed in Prague on June 25 at a ceremony attended by the Czech Republic Prime Minister, The Hon Ing Milos Zeman, and the Transport Minister, The Hon Ing Jaromir Schling.
KBR is an international, technology-based engineering and construction group, which provides a full spectrum of industry-leading services for governments and public infrastructure and to the hydrocarbon, chemical, energy, and forest products industries.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction business segments. The company's World Wide Web can be accessed at www.halliburton.com.
Contact
Ken Beedle
ken.beedle@halliburton.com
Halliburton
Public Relations
(p) 01372.866622
Employment Contact
jobs@halliburton.com
(p) 800.888.7668
ext. 8005
Supplier/Procurement Contact
kbr_supplier_relations@halliburton.com
Supplier Diversity Contact
Erin Petkovich
supplier_diversity@halliburton.com
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