Fluor Secures FEED Contract for Sasol's New Chemicals Complex in Louisiana

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Fluor Secures FEED Contract for Sasol's New Chemicals Complex in Louisiana

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYS: FLR) announced today that the company has secured a front-end engineering and design (FEED) contract for Sasol's world-scale ethane cracker and associated derivative chemicals facility at its Lake Charles Chemical Complex in Louisiana. Sasol announced the new project at a public event in December 2012, where Louisiana Governor Bobby Jindal noted that the project would be the largest single manufacturing investment in the history of Louisiana. Fluor will book approximately $120 million for the FEED contract into backlog in the second quarter. FEED work is under way and is expected to be completed in late 2013.

"Sasol has been a strategic client of Fluor's in South Africa since 1960. For more than 50 years, we have played a leading role in establishing and expanding their coal-to-liquids and chemicals facilities," said Peter Oosterveer, president of Fluor's Energy & Chemicals Group. "We are both excited and committed to play a leading role in Sasol's robust international expansion plans into the United States. We expect to leverage our extensive global supply chain capability and maximize the use of modular fabrication and self-perform construction to provide Sasol with schedule and cost certainty for their landmark capital investment in the U.S. Gulf Coast region."

The new ethane cracker and associated facilities will allow Sasol to expand its differentiated derivatives business in the United States. Project start-up and completion is forecast in 2017 with the expected production of 1.5 million tons-per-year of ethylene with downstream derivative plants.

Project work will be led from Fluor's Houston office with assistance from its offices in Southern California and Manila, the Philippines.

About Fluor Corporation

For more than 100 years, Fluor Corporation (NYS: 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.

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
Brian Mershon, 469-398-7621
Investor Relations
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222

KEYWORDS:   United States  North America  Louisiana  Texas


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