Fluor to Support Recommissioning of South African Power Station

Thursday, January 27, 2005 8:08 am EST

Dateline:

ALISO VIEJO, Calif.

Public Company Information:

NYSE:
FLR
"We're pleased to be able to apply our expertise in the power arena to help Eskom expand its generating capacity and continue to meet its customers' growing need for electricity"

Fluor Corporation (NYSE: FLR) today announced it has been awarded a contract by Eskom, South Africa's electricity utility, to help recommission a mothballed 1,200-megawatt power station in Grootvlei near Balfour. The total installed cost for the project is approximately $530 million. The value of Fluor's cost-reimbursable contract portion was not disclosed and was booked in the company's fourth quarter.

Fluor, in a joint venture with Pangaea, a black economic empowerment company, will be in an alliance with Eskom to provide engineering, procurement and construction management services for refurbishment of the coal-fired Grootvlei Power Station, whose six 200-megawatt units were mothballed during 1989-90.

Grootvlei is one of three Eskom power stations being recommissioned to meet an increasing demand for electricity. Grootvlei's first unit is expected to return to service in 2007 with completion of all six units scheduled for 2009.

"We're pleased to be able to apply our expertise in the power arena to help Eskom expand its generating capacity and continue to meet its customers' growing need for electricity," said Jeff Faulk, Fluor's Energy & Chemicals group president.

The project will be executed from Fluor's office in Sunninghill, South Africa.

Fluor provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, Calif., Fluor is a FORTUNE 500 company with revenues of nearly $9 billion in 2003. For more information, visit www.fluor.com.

Contact:

Jerry Holloway/Leann Vandergrift
Media Relations
949.349.7411/7420

Lila Churney
Investor Relations
949.349.3909 tel
949.349.5375 fax

   

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