Fluor selected for The Dow Chemical Company’s propylene production project in Texas

Monday, Sep 17, 2012

Fluor Corporation (NYSE: FLR) announced today it was awarded an engineering, procurement and construction management (EPCM) contract by The Dow Chemical Company (NYSE: DOW) for a propylene production asset project in Freeport, Texas. Fluor successfully completed the front-end engineering and design (FEED) contract thereby setting the stage for this next-phase EPCM project award. Fluor will book the undisclosed value in the third quarter.

“The U.S. is experiencing a significant rebound in the petrochemical sector due to the attractive price of shale gas and we look forward to helping our long-time customer Dow realize this important project.”

“Fluor is excited to be the EPCM contractor for the successful execution and completion of this project,” said Peter Oosterveer, president of Fluor’s Energy & Chemicals Group. "The U.S. is experiencing a significant rebound in the petrochemical sector due to the attractive price of shale gas and we look forward to helping our long-time customer Dow realize this important project."

The project is under way with estimated mechanical completion by 2015. Fluor’s Houston operations center is leading the effort with support from its Philippines operations. Nearly 1,600 home office, construction management and craft personnel are expected to be involved on this project at its peak.

Earlier this year, Fluor and Dow signed a Strategic Global Engineering, Procurement, Construction and Construction Management Agreement in support of Dow’s global capital projects program ranging across all Dow products. This includes potential new project work spanning across the globe.

Source: Business Wire