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ICA Fluor Part Of Joint Venture To Design And Build New Petrochemical Complex In Mexico

Stocks in this article: FLR

Fluor Corporation (NYSE: FLR) announced today that ICA Fluor, the industrial engineering partnership of Fluor and Empresas ICA (NYSE: 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.

About Odebrecht

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.

About TECHNIP

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.

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