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ICA Fluor Signs US$90 Million Contract to Build Offshore Living Quarters Module for PEMEX
Public Company Information:
MEXICO CITY--(BUSINESS WIRE)--ICA Fluor, the industrial engineering company jointly owned by Fluor Corp. (NYSE:FLR) and Empresas ICA (BMV and NYSE:ICA), today announced a US$90 million contract for modular construction of offshore living quarters for PEMEX Exploration and Production.
The quarters can house up to 150 people and will be built in Veracruz State, Mexico. The facility will be located in the Gulf of Mexico to serve several offshore fields, such as Cantarell, Ku-Maloob-Zap.
The US$90 million contract was awarded to ICA Fluor’s subsidiary Industria del Hierro (IH) through an international public bidding process. IH is dedicated to the construction of offshore platforms and modules. The contract will be booked in fourth quarter 2006 and the value will be split evenly between Fluor and Empresas ICA.
Construction is slated to begin in February 2007. The contract is expected to be completed by June 2008. The project involves engineering, procurement, construction, load out and seabed fastening as well as dismantling and transportation of the existing offshore facilities.
PEMEX Exploration and Production is a subsidiary of PEMEX, Mexico’s state-owned integrated oil and gas company. Industria del Hierro’s Mata Redonda yard in Veracruz State, Mexico, is the fabrication site.
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, automotive, electricity, 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 www.ica.com.mx.
Fluor Corp. (NYSE:FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, and maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $13.2 billion in 2005. For more information, visit www.fluor.com.
Keith Stephens, 469-398-7624
Steve Roth, 469-398-7623
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222