ICA Fluor to Build a US$1 Billion Dollar Refining Facility in Mexico
January 11 2016 - 7:00AM
ICA Fluor, the industrial construction joint venture of
Empresas ICA, S.A.B. de C.V. (BMV:ICA)
and (NYSE:ICA)
and Fluor
Corporation (NYSE:FLR)
, announced today
that its ICA Fluor industrial engineering-construction joint
venture was authorized by Pemex Transformación Industrial (Pemex)
to proceed with the engineering, procurement and construction
(Phase II) of the Madero Clean Diesel project at the Madero
Refinery in Tamaulipas, Mexico.
ICA Fluor will provide detailed engineering,
procurement, construction, commissioning and start-up services for
two 25,000-barrel-per-day diesel hydrodesulfurization trains and
associated facilities. The project also includes installation of
new hydrogen, sulfur recovery and sour water treatment plants; the
revamp of the existing diesel hydrodesulfurization unit, and
offsites and utilities to integrate the new production facility
with the existing refinery. The project is scheduled to be
completed in the first quarter of 2018.
The project is part of Pemex’s clean fuels
program, its comprehensive development and modernization program,
and is designed to increase Mexico’s production of ultra-low sulfur
diesel in accordance with applicable environmental standards.
“We are very pleased with the performance of ICA
Fluor, and this award by Pemex demonstrates the trust and
confidence in our joint venture to successfully execute this very
significant clean fuels project at the Madero refinery,” said Peter
Oosterveer, Fluor’s chief operating officer. “Fluor and ICA Fluor
remain fully committed to Pemex and our other clients in the
Mexican market.”
This press release 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.
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
ir.ica.mx.
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.
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 and integrated 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 136 on the FORTUNE 500 list. With 40,000
employees worldwide, the company's revenue for 2014 was $21.5
billion. Visit Fluor at www.fluor.com and follow
on Twitter @FluorCorp.
For more information, please contact:
Elena Garcia
elena.garcia@ica.mx
Gabriela Orozco
gabriela.orozco@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3608
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com
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