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|Fluor Awarded Canadian Power Plant Project|
St. Clair Energy Centre in Ontario Will Feature a 570-Megawatt Combined Cycle Power Plant
IRVING, Texas--(BUSINESS WIRE)--June 20, 2007--Fluor Corporation (NYSE:FLR) announced today that its subsidiary, Fluor Canada, Ltd., was awarded a procurement and construction project by St. Clair Power, L.P. to build a 570-megawatt combined cycle power plant in Ontario, Canada. Fluor received a full notice to proceed in the first quarter 2007. Completion of the power plant is projected to be in the fourth quarter 2008. The approximate contract value of the award is $250 million and was booked in the first quarter 2007.
Fluor's scope of work will consist of procurement, construction and commissioning of the plant at a greenfield site. At its peak, Fluor expects to employ approximately 650 craft workers.
St. Clair Power, L.P. is owned by affiliates of Invenergy LLC and Stark Investments, L.P. Invenergy is an independent power producer, with headquarters in Chicago, IL, that develops, owns, and operates natural gas-fueled and wind energy power projects. Stark is a global alternative investment firm headquartered in Milwaukee, WI.
"Fluor's reliability and strong track record of successfully delivering on-time projects in the power sector were key factors in our decision," said Pat West, Vice-President of Construction and Asset Management for Invenergy. "The additional electric capacity created by this facility will provide power to the Ontario Power Authority in Ontario, Canada while ultimately lowering air emissions."
"We have been engaged with St. Clair Power, L.P. during the permitting process, and we have recently started construction of this new power facility. We look forward to helping St. Clair Power L.P. deliver affordable and environmentally friendly electricity to the citizens of Ontario," said David Constable, president of Fluor's Power Group. "Fluor will leverage its project management systems to deliver a world-class facility and do so in a manner that reflects our strong safety culture," added Constable.
Over the last seven years, Fluor has completed 44 natural gas-fired power projects totaling nearly 35,000 megawatts of electric capacity.
Fluor Corporation (NYSE:FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information visit www.fluor.com.
CONTACT: Fluor Corporation
SOURCE: Fluor Corporation