Fluor Corporation (NYSE: FLR) and AMEC plc announced today that their
joint venture, Fluor/AMEC LLC, has been awarded a contract worth up to
$500 million by the U.S. Department of Defense to provide design-build
services for construction, rehabilitation, operation and maintenance of
power generation facilities throughout Iraq.
The award is one of 10 major construction contracts that will be issued
by the Coalition Provisional Authority Program Management Office for
services in five sectors-electrical, public works/water,
transportation/communications, security/justice, and
buildings/education/health. The PMO manages the $18.4 billion
appropriated by the U.S. Congress to support the reconstruction of Iraqi
infrastructure and is responsible for all activities associated with
program, project, asset, construction and financial management of that
portion of the reconstruction effort undertaken by the United States.
The goal of PMO, and the prime contractors who are selected, is to
assist Iraq in rebuilding infrastructure, growing employment
opportunities for Iraqi citizens, and building skill sets and capacity
for a strong and successful future for Iraqis.
"This is critically important work that will further restore normalcy to
the lives of the Iraqi people and support the country's long-term
stability and prosperity," said Alan Boeckmann, chairman and chief
executive officer of Fluor Corporation. "Fluor has been assisting with
power restoration since last fall, and, now, we look forward to
increasing that contribution through our Fluor/AMEC joint venture. We
will also continue our employment and training of a significant number
of Iraqis."
The Fluor/AMEC joint venture brings together the resources of two of the
largest diversified engineering services companies in the United States
and Britain, respectively. Fluor owns 51 percent of the joint venture;
AMEC owns 49 percent.
This award builds on the successful long-term relationship that Fluor
and AMEC have shared since 1998. Fluor and AMEC are currently working
together in the United States, Canada, Angola, South Korea, the
Philippines and Australia.
AMEC plc provides engineering, design, project delivery and maintenance
support to clients in the oil& gas; transport; infrastructure and
industrial sectors. The company generated revenues of 4.7 billion pounds
in 2003 and works at the local, national and international levels,
employing 45,000 people throughout the U.K., continental Europe, North
America and some 40 countries worldwide. For more information, visit www.amec.com
.
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 further information, please contact: media, Jerry Holloway,
+1-949-349-7411, or Leann Vandergrift, +1-949-349-7420, Lila Churney,
Investor Relations, +1-949-349-3909, or fax, +1-949-349-5375, all of
Fluor Corporation.
media, Jerry Holloway, +1-949-349-7411, or Leann Vandergrift,+1-949-349-7420, Lila Churney, Investor Relations, +1-949-349-3909, or fax,+1-949-349-5375, all of Fluor Corporation//Web site: http://www.amec.comhttp://www.fluor.com /