Oct 17 2013
Fluor Corporation announced today that its ICA Fluor industrial engineering-construction joint venture with Empresas ICA, S.A.B. de C.V. signed a contract with Petroquimica Mexicana de Vinilo (PMV), a joint venture between Mexichem, the leading Mexican petrochemical company, and Pemex, Mexico’s state-owned oil and gas company, for the revamp of the vinyl chloride monomer (VCM) plant located within the Pajaritos petrochemical complex, near Veracruz.
The total contract value is approximately $205 million. Fluor will book its $102.5 million share of the contract in the fourth quarter of 2013.
ICA Fluor will be responsible for the engineering, procurement, construction, maintenance and commissioning services of the works to bring the VCM facility to its nameplate capacity of 405,000 tons per year from its current nearly 200,000 tons per year. The project is planned to be completed in the fourth quarter of 2015.
This revamp project will correct problems that have prevented the plant from reaching its nameplate capacity. Petroquimica Mexicana de Vinilo is a flagship joint venture between Pemex and Mexichem, and reaching the plant’s production potential is a central element in its business plan.
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.
About ICA
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, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit www.ica.com.mx/ir.
Source: http://www.fluor.com/