Chicago Bridge & Iron
) gained 2.1% yesterday after it received an engineering,
procurement and construction (EPC) contract from AES Corporation, a
subsidiary of Indianapolis Power & Light Company. Valued at
approximately $500 million, the contract requires Chicago Bridge
& Iron to provide EPC services to AES Corp.'s 671-Megawatt
Combined-Cycle Gas Turbine Power Station to be constructed near
Separately, Chicago Bridge & Iron received an $85 million
contract from a consortium led by BP plc (BP) for the Shah Deniz
Stage II project on Apr 15, 2014. The company will also provide
core services including engineering and project management for
advancing the South Caucasus Pipeline Expansion (SCPX) in the Shah
Chicago Bridge & Iron's Engineering, Construction and
Maintenance division provides EPC services to major energy
infrastructure facilities.This segment also offers comprehensive
and integrated maintenance services. This operating group primarily
executes nuclear, fossil and renewable electricity generation
projects for the power industry and upstream and downstream process
facilities in the oil and gas industry. Such process facilities
include refinery process units, petrochemical facilities as well as
natural gas liquefaction and re-gasification terminals. This
segment accounted for 61% of the total revenue in fiscal 2013 and
reported a robust revenue increase of 392% in the last reported
quarter (first quarter 2014).
Chicago Bridge & Iron primarily focuses on providing energy
infrastructure and takes up government contracts. The company
offers designing, engineering, construction, fabrication,
maintenance and environmental services.
Chicago Bridge & Iron currently has a Zacks Rank #3 (Hold).
Some better-ranked companies in the sector include
Emcor Group Inc.
Sterling Construction Co. Inc
Tutor Perini Corporation
). All three carry a Zacks Rank #2 (Buy).
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CHICAGO BRIDGE (CBI): Free Stock Analysis
EMCOR GROUP INC (EME): Free Stock Analysis
TUTOR PERINI CP (TPC): Free Stock Analysis
STERLING CONSTR (STRL): Free Stock Analysis
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