ConDig (12-Jun-18). An international consortium led by engineering and construction group Fluor Corp (FLR) and Balfour Beatty has reached financial close on a $4.9 billion deal to build an automated people-mover at Los Angeles International Airport (LAX).

Under the deal with Los Angeles World Airports (LAWA), the LINXS team will design, build, finance, operate and maintain the 2.25-mile long airport connection.

Design and construction is scheduled to begin later this year, with passenger service slated for 2023.

The project includes six stations along a 2.25-mile guideway where driverless vehicles will arrive to transport passengers every two minutes during peak periods. This new line will offer ridership capacity of up to 10,000 passengers per hour, according to Irving, Texas-based Fluor.

LAWA anticipates that it will carry 85 million passengers per year and help ease traffic congestion.

The LINXS team is comprised of Fluor, ACS Infrastructure Development, Balfour Beatty, Bombardier Transportation, Dragados USA, Flatiron and Hochtief PPP Solutions.

Fluor is participating in the entire 30-year life cycle of the project, with financing including about $1.2 billion in private activity bonds, $263 million in bank debt, and equity from Fluor and its partners.

“Fluor is pleased to have reached financial close more than a month in advance of the deadline and is looking forward to providing this innovative solution for LAWA by extending LAX’s world-class facilities, reducing congestion and providing travel options with time-certainty,” said Terence Easton, president of Fluor’s infrastructure business.

“Reaching this milestone in partnership with LAWA will maximize our proven experience from past P3 transit projects to successfully design, build, finance, operate and maintain this megaproject.”

In May, a Fluor Corp and Balfour Balfour Beatty Infrastructure Inc. joint venture secured a $625 million contract for the revamp of the Southern Gateway, along Interstate I-35E and US 67 in Dallas, Texas.