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.About ICA Fluor ICA Fluor is the leading industrial engineering-construction company in Mexico, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, power, mining, and telecommunication industries. About 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 For more than 100 years, Fluor Corporation (NYSE: 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.