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KIEWIT AND BECHTEL FORM NEW VENTURE TO HELP REBUILD AMERICA'S INFRASTRUCTURE

 SAN FRANCISCO, March 16 /PRNewswire/ -- Peter Kiewit Sons' Inc. and Bechtel Enterprises Inc. today announced plans to form United Infrastructure Co., a joint venture to develop, finance and operate infrastructure projects in partnership with public agencies. Projects the company will pursue include transportation and environmental facilities.
 "The mission of United Infrastructure Co. is to bring additional funds and expertise to help rebuild America's aging infrastructure, thereby creating good jobs and improving America's ability to compete successfully in the global economy," said Kiewit Chairman Walter Scott, Jr. "We believe it is essential for the private sector to step forward and supplement our public resources."
 "Bechtel and Kiewit are two of the most experienced firms in the construction industry," said Cordell W. Hull, chairman of Bechtel Enterprises. "We look forward to applying Bechtel's experience in innovative financing and our development capabilities to infrastructure projects that are emerging in the United States."
 Omaha-based Kiewit has constructed more of the U.S. Interstate highway system than any other contractor. Kiewit, founded in 1884, recently announced that it had acquired a substantial interest in the State Route 91 toll road in Orange County, Calif., which is likely to be the first significant privately financed toll facility built in the United States since World War II.
 Bechtel, the San Francisco-based global engineering-construction firm, has been involved in numerous major transportation projects around the world. The privately held company is currently involved in the Boston Central Artery/Tunnel project and the Ankara-Gerede section of the Turkey Motorway. Founded in 1898, Bechtel will draw upon its strong finance skills and its history of success in designing and constructing projects.
 Additional announcements of the company's plans will be made in the next few months.
 -0- 3/16/93
 /CONTACT: Nicole Sunahara of Bechtel, 415-768-5438/


CO: Bechtel Enterprises Inc.; Peter Kiewit Sons' Inc. ST: California, Nebraska IN: CST SU: JVN

GT-CK -- SF011 -- 6781 03/16/93 17:37 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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