Fluor Corporation (NYSE: 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 (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.
Fluor CorporationMedia RelationsKeith Stephens, 469-398-7624orBrian Mershon, 469-398-7621orInvestor RelationsKen Lockwood, 469-398-7220orJason Landkamer, 469-398-7222