Fluor to Build and Manage Construction at Olefins Complex in Kuwait
Tuesday June 28, 10:38 am ET
ALISO VIEJO, Calif., June 28 /PRNewswire-FirstCall/ -- Fluor Corporation announced today that it has signed a memorandum of understanding with a joint venture of Dow Chemical Company and Petrochemical Industries Company (PIC) to provide engineering, procurement and construction management services for the utilities and infrastructure portion of a major petrochemical project in Kuwait. This scope is in addition to the program management contract which was awarded last year to perform overall management consultancy and front-end engineering services. Value to Fluor was not disclosed, and it was booked in the company's first quarter.
The billion-plus dollar, integrated petrochemical complex, known as the Olefins II Program, will be located approximately 25 miles south of Kuwait City in Shuaiba. It will include construction of an 850,000-tons-per-year cracker, a 600,000-tons-per-year ethylene glycol unit, a 450,000-tons-per-year ethyl benzene/styrene monomer unit and a debottleneck expansion of an additional 225,000 tons per year of polyethylene capacity at the existing complex. The completed facility will double the capacity at the existing olefins complex.
"We're very pleased to be awarded the next phase of this important chemicals project," says David Seaton, senior vice president responsible for the chemicals business within Fluor's Energy & Chemicals group. "We appreciate the confidence Dow and PIC have in Fluor, and we look forward to building on our excellent relationship."
Groundbreaking occurred in March 2005, with completion of the complex expected in the second quarter of 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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