ICA Fluor To Build A $743M Gas Pipeline In Mexico
IRVING, TEXAS & MEXICO CITY--(BUSINESS WIRE)--
Fluor Corporation (NYSE: FLR) announced that its ICA Fluor joint venture with Empresas ICA, S.A.B. de C.V. (BMV: ICA) (NYSE: ICA) signed a contract with TAG Pipelines Sur S. de R.L. de C.V. for the construction of the 1.42 billion cubic feet per day capacity Ramones II Sur Gas Pipeline through the states of San Luis Potosí, Querétaro and Guanajuato in Mexico. TAG Pipelines Sur is a joint venture between Mexico Power and Gas Ventures B.V., a wholly owned subsidiary of GDF Suez, P.M.I. Holdings B.V. and TAG Pipelines S. de R.L. de C.V., an affiliate of Mexgas Supply and Mexgas Enterprises (affiliates of Pemex Gas). Fluor booked its $357 million portion of the contract value in the first quarter of 2014.
ICA Fluor will be responsible for the engineering, procurement, construction, testing, commissioning and start-up services of a 291.7-kilometer-long, 42-inch diameter pipeline with one compression station (for a total capacity of 1,420 MMCFD), located in the southern portion of the Los Ramones Phase II gas transportation system. The system will be completed in the second quarter of 2016.
This project is a segment of the integrated Los Ramones transportation system, part of a strategy to supply central Mexico with natural gas imported from the United States. It is the third phase of a transportation system that runs from the U.S.-Mexico border to Apaseo el Alto, Guanajuato. As a result of the increasing needs for natural gas availability and distribution in different regions in Mexico, the project is expected to have a large impact on the country’s industry and economy.
About ICA Fluor
ICA Fluor is the leading industrial engineering-construction company in Mexico, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, power, mining, and telecommunication industries.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, ICA is listed on the Mexican and New York Stock exchanges. For more information, visit www.ica.com.mx/ir.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that designs and builds some of the world's most complex projects. The company creates and delivers innovative solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 110 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company's revenue for 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.
Copyright Business Wire 2014