By Business Wire, October 16, 2013, 05:03:00 PM EDT
IRVING, Texas--(BUSINESS WIRE)--
Fluor Corporation (NYSE:FLR) announced today that its ICA Fluor
industrial engineering-construction joint venture with Empresas ICA,
S.A.B. de C.V. (BMV:ICA) (NYSE:ICA) signed a contract with
Petroquimica Mexicana de Vinilo (PMV), a joint venture between Mexichem,
the leading Mexican petrochemical company, and Pemex, Mexico's
state-owned oil and gas company, for the revamp of the vinyl chloride
monomer (VCM) plant located within the Pajaritos petrochemical complex,
near Veracruz. The total contract value is approximately $205 million.
Fluor will book its $102.5 million share of the contract in the fourth
quarter of 2013.
ICA Fluor will be responsible for the engineering, procurement,
construction, maintenance and commissioning services of the works to
bring the VCM facility to its nameplate capacity of 405,000 tons per
year from its current nearly 200,000 tons per year. The project is
planned to be completed in the fourth quarter of 2015.
This revamp project will correct problems that have prevented the plant
from reaching its nameplate capacity. Petroquimica Mexicana de Vinilo is
a flagship joint venture between Pemex and Mexichem, and reaching the
plant's production potential is a central element in its business 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
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, lCA is listed on
the Mexican and New York Stock exchanges. For more information, visit www.ica.com.mx/ir.
About Fluor Corporation
For more than 100 years, Fluor Corporation (NYSE:FLR) has partnered
with its clients to design, build and maintain many of the world's most
challenging and complex capital projects. Through its global network of
offices on six continents, more than 40,000 employees provide
comprehensive capabilities and world-class expertise in the fields of
engineering, procurement, construction, commissioning, fabrication,
operations, maintenance and project management. Today, the company
serves a global client base in the energy, chemicals, government,
industrial, infrastructure, operations & maintenance, manufacturing &
life sciences, mining, power and transportation sectors. Headquartered
in Irving, Texas, Fluor ranks 110 on the FORTUNE 500 list and had
revenue of $27.6 billion in 2012. For more information, visit www.fluor.com
and follow us on Twitter at @FluorCorp.
Source: Fluor Corporation