ICA Fluor Part of Joint Venture to Design and Build New Petrochemical Complex in Mexico
IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYS: FLR) announced today that ICA Fluor, the industrial engineering partnership of Fluor and Empresas ICA (NYS: ICA) , is part of the joint venture that was awarded a multi-billion dollar engineering, procurement and construction contract by Braskem Idesa. The joint venture company, which includes Odebrecht, Technip and ICA Fluor, will design and build the new Etileno XXI petrochemical complex in the Mexican state of Veracruz. Fluor will book approximately $275 million into backlog in the fourth quarter of 2012.
The new petrochemical complex will include a 1 million ton-per-year ethylene cracker and two high density polyethylene plants. The joint venture project team will utilize several operating centers around the world to execute the project.
ICA Fluor was part of the team that performed front-end engineering for the offsites and facilities during 2011.
About Braskem Idesa
Created in 2010, Braskem Idesa is a joint venture between Braskem SA (Brazil), the largest petrochemical company in the Americas and Grupo Idesa, a leading Mexican petrochemical company. Together they are developing the Etileno XXI project, which focuses on the construction and operation of a petrochemical complex to produce polyethylene in the state of Veracruz, Mexico. The project requires an investment of $3 billion dollars and will start operating in 2015. Visit www.braskem.com.mx.
Odebrecht is a global organization founded in Brazil in 1944 as a construction company. It grew, diversified its business areas and nowadays has been operating in heavy construction, infrastructure, environmental engineering, real estate development, energy, oil and gas, chemical and petrochemical sectors, defense and technology, naval construction, bioenergy, transportation and logistics, stakes and investments. With operations in 22 countries in four continents, Odebrecht has products sold in 56 countries, and employees of over 50 different nationalities.
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 30,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).
About ICA Fluor
ICA Fluor is a joint venture of Fluor Corporation and ICA, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, power, mining, and telecommunication industries in Mexico, Central America and the Caribbean.
About Empresas ICA
Empresas ICA, S.A.B. de C.V. is Mexico's largest construction and infrastructure operations company. Founded in 1947, ICA's principal lines of business are civil and industrial construction and engineering; infrastructure operations, including airports, toll roads, and water systems; and homebuilding. For more information visit www.ica.com.mx/ir.
About Fluor Corporation
Fluor Corporation (NYS: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, the company was started by John Simon Fluor Sr. with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.
Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com.
Keith Stephens, 469-398-7624
Brian Mershon, 469-398-7621
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222
KEYWORDS: United States Mexico North America Central America Texas
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