ICA Fluor Awarded Pemex Contract for Miguel Hidalgo Refinery in Mexico

abarrelfull wrote on 26 Sep 2013 07:12
Tags: engineering fluor mexico n-america pemex refinery

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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) was awarded an additional new $95 million contract by Pemex to develop the first phase of the overall project to reconfigure the Miguel Hidalgo Refinery, located in Tula, Hidalgo, Mexico. Fluor will book its $48 million share of the contract in the third quarter of 2013.

ICA Fluor will be responsible for the basic and detailed engineering for the process plants, auxiliary services and integration works required to increase the refinery’s distillate production capacity from 63 to 80 percent.

This is the first phase of a mega-project announced by Pemex to increase national production of higher value distillates through the reprocessing of products such as gasoil (diesel). Pemex expects its total investment to be approximately $3.5 billion.

“This project is a major step in the modernization of Mexico’s oil processing facilities, and we are proud to be in the position to support Pemex with Mexico-based engineering to advance the key goals set forth in their strategic plan,” said Juan Carlos Santos Fernandez, director general of ICA Fluor.

• ICA Fluor Awarded Pemex Contract for Miguel Hidalgo Refinery in Mexico

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