Mar 25 2010
ICA Fluor, the industrial construction joint venture of Empresas ICA, S.A.B de C.V. (BMV and NYSE: ICA) and Fluor Corporation (NYSE: FLR), announced today that Mexico’s state oil company, PEMEX Refining, has awarded the company engineering, procurement and construction (EPC) contracts for two low-sulfur gasoline projects in Mexico valued at $622 million as part of its clean fuels program. Fluor will book its $311 million portion of the award in the first quarter of 2010.
ICA Fluor is responsible for the EPC, testing and start-up that includes the installation of the catalytic gasoline desulfurization plants, the amine regeneration units, offsites, utilities and integration for PEMEX’s existing Gral. Lazaro Cárdenas del Río Refinery in Minatitlan, Veracruz, and the Antonio Dovali Jaime Refinery located in Salina Cruz, Oaxaca.
Both the Minatitlan and Salina Cruz refinery projects each include 25,000 barrel-per-day catalytic distillation trains, the associated amine regeneration units, flare and all ancillary facilities. The work is scheduled to be completed in mid-2013.
PEMEX’s clean fuels program is part of the comprehensive development and modernization of PEMEX Refining designed to increase Mexico’s production of ultra low-sulfur gasoline in accordance with the applicable environmental standards. “The Mina and Salina Cruz projects provide ICA Fluor with the opportunity to maintain its installed capacity while supporting PEMEX in advancing the key goals set forth in the recently approved Energy Reform bill, which includes environmental responsibility and development of engineering capabilities in Mexico,” said Juan Carlos Santos, director general of ICA Fluor
Source: http://www.ica.com.mx.