MEXICO CITY, Dec. 3, 2014 (GLOBE NEWSWIRE) -- ICA Fluor, the industrial construction joint venture of Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA) and Fluor Corporation (NYSE:FLR), announced today that it signed a contract with Pemex Refinación for the construction of the delayed coker unit that will be installed at the Miguel Hidalgo Refinery in Tula, Hidalgo, Mexico. The total contract value is US$1.3 billion dollars.
ICA Fluor was awarded the contract for Phase I of the Residue Recovery Project for the Miguel Hidalgo Refinery in 2013. This Phase II contract involves providing detail engineering, procurement and construction (EPC) services for the 86,000 barrels per day capacity plant. It is the first package to be converted to the EPC stage under the open book established in the Phase I contract. The mechanical completion of the project is scheduled for the second quarter of 2018.
"This project is a major step in the modernization of Mexico's oil processing facilities," said Juan Carlos Santos, Director General of ICA Fluor. "We are proud to be in the position to support Pemex with our Mexican engineering and construction resources to advance the key goals set forth in its strategic plan."
This report contains projections or other forward-looking statements related to ICA that reflect ICA's current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA's businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA's most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.
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, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.com.mx
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.
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Source:Empresas ICA, S.A.B. de C.V.;Fluor Corporation