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FL UOR CORPORATION 2003 A N NUAL REPORT
INDUSTRIAL & INFRASTRUCTURE PAGE 10
Fluor฀is฀executing฀an฀
integrated฀engineering,฀
procurement,฀construction฀
management,฀and฀valida-
tion฀(EPCMV)฀project฀for฀
Eli฀Lilly’s฀large-scale฀
biotech฀manufacturing฀
facility฀in฀Carolina,฀Puerto฀ Fluor’s฀biotech฀expertise฀
Rico.฀The฀major฀process฀ and฀strong฀Puerto฀Rico฀
buildings฀are฀of฀modular฀ execution฀platform.฀The฀
design฀and฀construction,฀ new฀facility฀is฀slated฀to฀
utilizing฀over฀600฀mod- become฀fully฀operational฀
ules,฀and฀demonstrate฀ in฀late฀2004.
Fluor฀is฀program฀manager฀
for฀the฀design,฀build,฀
finance฀and฀maintenance฀
operations฀of฀the฀super-
structure฀portion฀of฀HSL-
Zuid฀PPP฀high-speed฀rail฀
route฀in฀The฀Netherlands,฀
a฀25-year฀concession฀with฀
the฀Dutch฀State.฀Pictured฀
above,฀craftsmen฀work฀on฀
the฀sub-structure฀con-
nection฀to฀the฀existing฀
track฀at฀Rotterdam฀Central฀
Station,฀ultimately฀con-
necting฀Amsterdam฀to฀the฀
Dutch/Belgium฀border.฀
(Photo฀courtesy฀of฀Project฀
Organisation฀HSL-Zuid/Ton฀
Poortvliet.)
Industrial & Infrastructure backlog. Two of these were
commercial projects in very early stages, which the com-
pany decided not to execute due to significant changes in
the insurance and financial profiles of these projects. The
third was a mining project that had been put on hold due to
unanticipated financing challenges.
Continued strength is anticipated in the life sciences
market, where Fluor has a dominant market position
and has established strong client relationships with major
pharmaceutical and biotechnology clients. Expiration
of a sizeable number of patents over the next several years
is stimulating significant new product development
activity with critical time-to-market demands where
Fluor’s project management skills provide a strong
competitive advantage.
Fluor is continuing to selectively pursue opportunities
within the commercial & institutional market that target
relatively larger projects with accompanying logistical
and technical challenges, which leverage the company’s
program and construction management capabilities.
These include convention centers and performing arts
complexes, along with high-end destination resorts out-
side the U.S., particularly in the Caribbean and Mexico.
Another targeted niche within the commercial & insti-
tutional market is research laboratories, where Fluor’s
technical skills bring specialized value, particularly in the
life sciences area where the company has numerous strong
client relationships.
In transportation, Fluor continues to build on its
growing track record of success with its business model
that focuses primarily on large, complex design/build
and public/private partnership opportunities. Budget
constraints are driving increased use of privatization as a
solution to state and federal transportation infrastructure
needs. During 2003, Fluor was awarded several first-of-
kind road projects. The SR 125 toll road in California is the
first project to combine private debt and equity financ-
ing with Federal TIFIA financing; the ROC 52 highway in
Minnesota is the first best-value and the largest design/
build contract ever awarded by the Minnesota Department