JEC Jacobs Engineering Group Inc

Fluor Corporation (FLR) recently completed a new 580-megawatt natural gas-fired, combined-cycle generating station for Dominion Virginia Power (D) in Buckingham County, Virginia. Fluor is engaged in providing engineering, procurement and construction services for the new Bear Garden Generating Station.  

The project kicked-off in the spring of 2009 and deliveries of facilities were made by Fluor to Dominion Virginia Power in mid-2011. The rising need for energy will be met by the requirement of the new Bear Garden Generating Station, which will in turn, generate tax revenue for the local economy.

Fluor acknowledges the efforts put in by its employees, subcontractors and suppliers for completion of the new facility. Local workers were primarily used for the construction of the plant. More than 700 construction jobs were created in this project with 2.5 million total work hours.

Natural gas will be the prime fuel for the Bear Garden Generating Station with ultra low-sulfur diesel fuel kept as a backup. The facility is running efficiently with its power production being approximately 1.3% higher than planned output with 1.6% of lower fuel consumption.  

Acting through its subsidiaries, Fluor Corporation is one of the largest professional services firms, providing engineering, procurement, construction and maintenance as well as project management services on a global basis.

It serves a diverse set of industries worldwide including oil and gas, chemical and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. It is also a primary service provider to the U.S. federal government.  The company’s prime competitor is Jacob’s Engineering Group (JEC).

We continue to maintain a Neutral rating on Fluor Corporation, with a Zacks #3 Rank (Hold recommendation) over the next one-to-three months.

 
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