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ICA Fluor to Build $1.3 Billion Coker Plant in Mexico
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced that its ICA Fluor industrial engineering-construction joint venture with Empresas ICA, S.A.B. de C.V. (BMV and NYSE: ICA) signed a contract with Pemex Refinación for the construction of the delayed coker unit that will be installed at the Miguel Hidalgo Refinery in Tula, Hidalgo, Mexico. The total contract value is $1.3 billion, and Fluor will book its $650 million share of the contract in the fourth quarter of 2014.
ICA Fluor was awarded a contract for Phase I of the Residue Recovery Project for the Miguel Hidalgo Refinery in 2013. This Phase II contract involves providing detailed engineering, procurement and construction (EPC) services for the 86,000-barrels-per-day capacity plant. It is the first package to be converted to the EPC stage under the open book established in the Phase I contract. The mechanical completion of the project is scheduled for the second quarter of 2018.
“This project is a major step in the modernization of Mexico’s oil processing facilities,” said Juan Carlos Santos Fernandez, director general of ICA Fluor. “We are proud to be in the position to support Pemex with our Mexican engineering and construction resources to advance the key goals set forth in its strategic plan.”
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 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 109 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company's revenue for 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.
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