Fluor Corporation (NYSE: FLR) announced today that it has been awarded a
contract by Project Management & Development Company, Ltd. (PMD), of
Saudi Arabia to provide front-end engineering and design and project
management consultancy services for the $3.5 billion Jubail
petrochemicals complex. Fluor's contract value was not disclosed.
The multibillion-dollar petrochemical complex will be located in Al
Jubail, Saudi Arabia. Once completed, the complex will include a 1.35
million-tons-per-year ethane/butane cracker, a 950,000-tons-per-year
polyethylene plant, a polypropylene plant with capacity of at least
600,000 tons per year, a 530,000-tons-per-year ethylene oxide unit to
support growing global demand for these consumer product precursors, and
a 300,000-tons-per- year Bisphenol-A plant including phenol and cumene
units. Additional derivative facilities will be installed for
methylamines, ethanolamine, ethoxylates, butane-1, and benzene
extraction. Agreements with Saudi Aramco for the supply of both ethane
and butane feedstock are complete, along with permitting from the Royal
Commission for the commercial use of land and water.
"We're confident in our selection of Fluor for this project," says PMD
President and Chief Executive Officer Majed Al-Ahmadi. "Fluor has
tremendous knowledge and an excellent track record of executing
petrochemical projects in the Middle East."
"We're excited to be a part of this project, which is one of the largest
private investments in petrochemicals in the Middle East," said David
Seaton, senior vice president responsible for the chemicals business
within Fluor's Energy & Chemicals group.
Work on the project is already under way in Fluor's Camberley, UK,
office. Site work is expected to start later this year, with project
completion scheduled for 2008.
Fluor provides services on a global basis in the fields of engineering,
procurement, construction, operations, maintenance and project
management. Headquartered in Aliso Viejo, Calif., Fluor is a FORTUNE 500
company with revenues of $9.4 billion in 2004. For more information,
visit www.fluor.com.
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Jerry Holloway/Leann Vandergrift
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Media Relations
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949.349.7411/7420
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Lila Churney
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Investor Relations
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949.349.3909 tel
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949.349.5375 fax
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Media Relations, Jerry Holloway, +1-949-349-7411, or LeannVandergrift, +1-949-349-7420, or Investor Relations, Lila Churney,+1-949-349-3909, or fax, +1-949-349-5375, all of Fluor Corporation//Web site: http://www.fluor.com/