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ICA Fluor to Build $1 Billion Refining Facility in Mexico
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ICA Fluor to Build $1 Billion Refining Facility in MexicoTweet this
IRVING, Texas & MEXICO CITY--(BUSINESS WIRE)--Fluor Corporation (NYSE:FLR) announced today that ICA Fluor, its industrial engineering and construction joint venture with Empresas ICA, S.A.B. de C.V. (BMV and NYSE: ICA), was authorized by Pemex Transformación Industrial (Pemex) to proceed with the engineering, procurement and construction (Phase II) of the Madero Clean Diesel project at the Madero Refinery in Tamaulipas, Mexico. Fluor booked its $500 million share of the contract in the fourth quarter of 2015.
ICA Fluor will provide detailed engineering, procurement, construction, commissioning and start-up services for two 25,000-barrel-per-day diesel hydrodesulfurization trains and associated facilities. The project also includes installation of new hydrogen, sulfur recovery and sour water treatment plants, the revamp of the existing diesel hydrodesulfurization unit, and offsites and utilities to integrate the new production facility with the existing refinery. The project is scheduled to be completed in the first quarter of 2018.
The project is part of Pemex’s clean fuels program, its comprehensive development and modernization program, and is designed to increase Mexico’s production of ultra-low sulfur diesel in accordance with applicable environmental standards.
“We are very pleased with the performance of ICA Fluor, and this award by Pemex demonstrates the trust and confidence in our joint venture to successfully execute this very significant clean fuels project at the Madero refinery,” said Peter Oosterveer, Fluor’s chief operating officer. “Fluor and ICA Fluor remain fully committed to Pemex and our other clients in the Mexican market.”
About ICA Fluor
ICA Fluor is the leading industrial engineering-construction company in Mexico, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, power, mining and telecommunication industries.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems and real estate. Founded in 1947, ICA is listed on the Mexican and New York Stock exchanges. For more information, visit www.ica.com.mx/ir.
About Fluor Corporation
Fluor Corporation (NYSE:FLR) is a global engineering and construction firm that designs and builds some of the world's most complex projects. The company creates and delivers innovative and integrated solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 136 on the FORTUNE 500 list. With 40,000 employees worldwide, the company's revenue for 2014 was $21.5 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.
Brian Mershon, 469-398-7621
Brett Turner, 864-281-6976
Geoff Telfer, 469-398-7070
Jason Landkamer, 469-398-7222