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This press release was originally distributed via the eWire press wire service (2002–2016). It is preserved here as a historical record.
ARCADIS Selected for Design and Management of a New High Speed Rail Track between France and Spain
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
ARCADIS Selected for Design and Management of a New High Speed Rail Track between France and Spain
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ARCADIS Selected for Design and Management of a New High Speed Rail Track between France and Spain
EUROPE, Mar. 31 -/E-Wire/Business Wire/-- ARCADIS (NASDAQ: ARCAF, EURONEXT: ARCAD), the international consultancy and engineering company, today announced that it has been selected as part of a consortium that will design and execute the project management for a high-speed rail track and tunnel through the Pyrenees between France and Spain. Along with ARCADIS, the consortium also consists of specialists from INGEROP (France), SENER (Spain) and TUCRAIL (Belgium). The project includes both a track for public transportation as well as for freight trains. The new rail connection will shorten the travel time between Perpignan (France) and Figueras (Spain) by two hours. The total cost of the project amounts to EUR 952 million. The revenue for ARCADIS will amount to EUR 6 million.
The project will consist of building a double track over land and two single tracks through two separate tunnels. The latter is done for safety reasons. The track will be more than 44 km in length and the first trains are expected to run in 2009.
The building of the new track between France and Spain is a major step in improving the connection between the two countries. Currently, the mountains of the eastern Pyrenees and the differences between the two rail systems are major hurdles. As a consequence, much of the traffic is going via the highway, often resulting in large traffic jams.
"ARCADIS is proud of this important assignment," said Harrie Noy, Chief Executive Officer of ARCADIS. "For years now, the French and Spanish have been discussing ways to improve accessibility. It is apparent that a high-speed train connection through the Pyrenees will be an advantage. This is an excellent example of investments being made in transnational European networks. Our extensive know-how and experience in rail-infrastructure and bridges and tunnels, combined with our strong positions in our home markets, make us excellent partners for this project."
ARCADIS is a leading, global, knowledge-driven consultancy and engineering company, active in the fields of infrastructure, buildings, environment and communications. With client success central to our total business approach, we fulfill project or program needs from concept to completion and beyond. Together, we generate EUR 850 million in annual revenues. There are 9000 of us, results-oriented people, continually investing in our skills to maximize value while creating viable solutions.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with possible changes in environmental legislation and risks with regard to the Company's ability to acquire and execute projects. These are other risks are described in ARCADIS' filings with the Securities and Exchange Commission over the last 12 months, copies of which will be available from the SEC or may be obtained upon request from the Company.
ARCADIS, Joost Slooten, *31-26-3778604, [REDACTED-EMAIL]
http://www.arcadis-global.com
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