ICA Fluor Signs $134 Million Contract to Build a Modular Cryogenic Plant for Pemex

Friday, September 24, 2004 8:08 am EDT

Dateline:

ALISO VIEJO, Calif.

Public Company Information:

NYSE:
FLR
"This project offers to our client a design which minimizes gas consumption and the use of a compact Liquid Recovery Unit with low-pressure drops and energy conservation"

ICA Fluor, the industrial engineering and construction company jointly owned by Fluor Corporation (NYSE: FLR) and Empresas ICA Sociedad Controladora (NYSE: ICA), today announced the signing of a contract for the engineering, procurement, construction and start-up support services for a modular cryogenic plant and a fuel terminal for Pemex Gas y Petroquimica Basica. The total contract value is $134 million.

Located in Reynosa, Tamaulipas, Mexico, the cryogenic plant, which will have a 200 million standard cubic feet-per-day capacity, 98 percent propane recovery, will cool feed gas so that liquid hydrocarbons can be separated and recovered. The consortium formed by ICA Fluor and Linde Process Plants Inc. will develop the project, which is scheduled to be completed in approximately 20 months.

"This project offers to our client a design which minimizes gas consumption and the use of a compact Liquid Recovery Unit with low-pressure drops and energy conservation," said Jorge Borja, ICA Fluor general director. "The project confirms ICA Fluor's passion to provide its clients cost-effective solutions focused on efficiency and environmental protection."

Pemex Gas y Petroquimica Basica is a subsidiary of Pemex, the Mexican state-owned petroleum company.

ICA Fluor is the leading industrial engineering company in Mexico, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, electricity, mining and telecommunications industries.

Founded in 1947, ICA has completed construction and engineering projects in 21 countries. ICA's principal business units include Civil Construction and Industrial Construction. Through its subsidiaries, ICA also manages airports and operates specialized port terminals, tunnels, highways and municipal services under government concession contracts and/or partial sale of long-term contract rights.

Fluor Corporation (NYSE: FLR) 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.

For more information please contact: media relations, Jerry Holloway, +1-949-349-7411, or Leann Vandergrift, +1-949-349-7420, or investor relations, Lila Churney, +1-949-349-3909, or fax, +1-949-349-5375, all of Fluor Corporation.

Contact:

Media, Jerry Holloway, +1-949-349-7411, or Leann Vandergrift,
+1-949-349-7420, or Investors, Lila Churney, +1-949-349-3909, or fax,
+1-949-349-5375, all of Flour Corporation/
/Web site: http://www.fluor.com /

   

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