ICA Fluor Signs $690 Million Contract to Build Package II of a Refining Complex for Pemex

abarrelfullabarrelfull wrote on 10 Jan 2012 14:44

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ICA Fluor, the industrial engineering company jointly owned by Fluor Corporation (NYSE: FLR), and Empresas ICA Sociedad Controladora (NYSE: ICA), today announced the signing of a contract for the engineering, procurement and construction services for Package II of the Lazaro Cardenas refining complex, for Pemex Refinacion. Total contract value for Package II is $690 million. Fluor booked its 50 percent share of the total contract value in its fourth quarter.

Located in Minatitlan, Veracruz, Mexico, Package II includes three main work areas: auxiliary services, a water treatment plant and works to integrate all services of the refinery. The project is scheduled to be completed by the end of 2008.

"This contract demonstrates the leadership and competitiveness of our company, as well as Pemex's confidence in ICA Fluor's high-quality engineering, and will provide almost four years of continuous work for Mexican workers and engineers," said Jorge Borja, ICA Fluor's general director.

Pemex Refinacion is a subsidiary of Pemex, the Mexican state-owned petroleum company.

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