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ICA Fluor Signs $690 Million Contract to Build Package II of a Refining Complex for Pemex
Public Company Information:
ICA Fluor, the industrial engineering 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 and construction services for Package II of the Lazaro Cardenas refining complex, for Pemex Refinacion. Total contract value for Package II is $690 million. Fluor booked its 50 percent share of the total contract value in its fourth quarter.
Located in Minatitlan, Veracruz, Mexico, Package II includes three main work areas: auxiliary services, a water treatment plant and works to integrate all services of the refinery. The project is scheduled to be completed by the end of 2008.
"This contract demonstrates the leadership and competitiveness of our company, as well as Pemex's confidence in ICA Fluor's high-quality engineering, and will provide almost four years of continuous work for Mexican workers and engineers," said Jorge Borja, ICA Fluor's general director.
Pemex Refinacion 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, and construction of oil, gas, electricity generation, petrochemical and chemical plants, as well as automotive and telecommunication installations.
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.
Jerry Holloway/Leann Vandergrift