Newsroom

Ishikawajima-Harima Heavy Industries Co. Ltd. & ICA Fluor Consortium Awarded First LNG Terminal in Mexico

Thursday, December 18, 2003 8:08 am EST

Dateline:

MEXICO CITY

Public Company Information:

NYSE:
FLR

The consortium formed by Ishikawajima-Harima Heavy Industries (IHI) and ICA Fluor today announced that it has entered into a lump-sum, turnkey agreement with Terminal de LNG de Altamira S de RL de CV, for the construction of the first Mexican liquefied natural gas (LNG) regasification terminal. The contract value for the consortium is approximately US$ 250 million.

The facility, to be located in the port of Altamira, Tamaulipas, on Mexico's Gulf coast, will have an initial capacity of 650 million cubic feet per day, with provisions for future expansion.

The project will be constructed over 36 months and includes design, engineering, procurement, construction and start-up services. IHI is the consortium representative and the technical leader. ICA Fluor will act as the overall project manager and provide all local services. The facility will include LNG unloading and ship berthing facilities, storage consisting of two 150,000 cubic meter double containment LNG tanks, regasification, send-out installations and all related utilities.

The engineering for the project will be done mainly in Mexico and will create regional employment opportunities for some 1,500 construction workers at the peak.

Terminal de LNG de Altamira is a joint venture company owned by the Royal Dutch / Shell Group and the Total Group.

IHI, founded in Japan in 1853, provides technology-oriented products and services to the industrial, private and public sectors and has a network of 33 offices and subsidiary companies acting worldwide.

ICA Fluor is jointly owned by Fluor Corporation (NYSE: FLR) and Empresas ICA Sociedad Controladora (NYSE: ICA; BMV) and is the leading industrial engineering company in Mexico, dedicated to the engineering, procurement, and construction of telecommunication installations and chemical, petrochemical, automotive, refinery, electricity generation plants.

Founded in Mexico 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. For more information, visit www.ica.com.mx

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 $10 billion in 2002. For more information, visit www.fluor.com

For further information please contact: Media Relations, Jerry Holloway, +1-949-349-7411, or Lori Serrato, +1-949-349-7420, or Investor Relations, Lila Churney, +1-949-349-3909, fax +1-949-349-5375, all of Fluor Corporation

Contact:

Media Relations, Jerry Holloway, +1-949-349-7411, or Lori
Serrato, +1-949-349-7420, or Investor Relations, Lila Churney,
+1-949-349-3909, fax +1-949-349-5375, all of Fluor Corporation