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ICA Fluor Awarded $108 Million Contract By Indelpro to Build Petrochemical Plant in Mexico
Public Company Information:
ICA Fluor, the industrial engineering and construction company jointly owned by Fluor Corporation (NYSE: FLR) and Empresas ICA Sociedad Controladora (NYSE: ICA), today announced it signed a lump sum contract with Indelpro, the leading polypropylene production company subsidiary of Alpek, for detailed engineering, construction, procurement and pre-commissioning services of a second line of polypropylene (PP) and the revamping of the existing propylene splitter. The project value for ICA Fluor is $108 million.
Located in Altamira, Tamaulipas, Mexico, the new plant will be one of the largest and most modern facilities of its kind in the world, using the Spherizone technology by Basell. The main raw material used to produce polypropylene is propylene (monomer), a gas obtained from the primary processing of petroleum, which by chemical reactions is transformed into a polymer. The project has a target completion date in December 2007.
Indelpro is a joint venture company between Alpek, the petrochemical arm of ALFA, the Mexican industrial company, and Basell Polyolefins (formerly Montell), a worldwide leader in the technology and production of polypropylene. Indelpro is located in Altamira Tamaulipas, Mexico, where it operates a polypropylene plant with a current production capacity of 240,000 tons per year.
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, electricity, automotive, mining and telecommunication industries.
Empresas ICA was founded in 1947. ICA's principal lines of business are construction and engineering; housing; and infrastructure operations, including airports, toll roads, and municipal services. For more information please visit http://www.ica.com.mx .
Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, and maintenance and project management. Now headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $13.2 billion in 2005. For more information, visit http://www.fluor.com.
Keith Stephens / Steve Roth
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