Mexico's ICA Fluor Wins $622 Million Pemex Refinary Contracts

Date : 03/24/2010 @ 10:22AM
Source : Dow Jones News
Stock : Empresas Ica, S.a. De C.v. (PC) (ICAYY)
Quote : 0.11  0.0398 (56.70%) @ 2:47PM

Mexico's ICA Fluor Wins $622 Million Pemex Refinary Contracts

Empresas Ica Soc Con (NYSE:ICA)
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ICA Fluor said Wednesday that Mexico's state-owned oil company Petroleos Mexicanos has awarded the company engineering, procurement and construction contracts for two low-sulfur gasoline projects worth $622 million.

The projects include the installation of the catalytic gasoline desulfurization plants and amine regeneration units at two Pemex refineries in Minatitlan, Veracruz and Salina Cruz, Oaxaca, ICA Fluor said in a press release.

ICA Fluor said it expects to finish the projects in mid-2013.

ICA Fluor is a joint venture between Mexico's No.1 construction and engineering firm Empresas ICA SAB (ICA) and U.S. construction company Fluor Corporation (FLR).

Fluor will book its $311 million portion of the award in the first quarter of 2010, ICA Fluor said.

Empresa ICA's shares were recently unchanged at 31.70 pesos ($2.54) in early trading on the Mexican Stock Exchange.

-By Ken Parks, Dow Jones Newswires, 52-55-5980-5177, ken.parks@dowjones.com

 
 

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