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ICA Fluor Signs Contract to Build Modular Cryogenic Plant for Pemex
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 the signing of a contract for the engineering, procurement, construction and start-up support services for a modular cryogenic plant for Pemex Gas y Petroquimica Basica. Total contract value is $36 million. Fluor booked its 50 percent share of the total contract value in its first quarter.
Located in Reynosa, Tamaulipas, Mexico, the cryogenic plant, with 200 million standard cubic feet per day of capacity, will cool feed gas so that liquid hydrocarbons can be separated out and recovered. The consortium formed by ICA Fluor and Linde Process Plants Inc. will develop the project, which is scheduled to be completed by the end of summer 2006.
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, and construction of telecommunication installations and chemical, petrochemical, automotive, refinery and electricity generation plants.
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 $9.4 billion in 2004. For more information, visit www.fluor.com.
Jerry Holloway/Leann Vandergrift