CORP / Stone & Webster/Fluor Daniel Petrochemicals Signs
Contract for 2.8-Billion Pound Ethylene Plant at Joffre,
Alberta
NYSE SYMBOL: FLR
MARCH 30, 1998
HOUSTON, TEXAS--Stone & Webster/Fluor Daniel Petrochemicals
(SW/FD) has signed a contract with NOVA Chemicals Ltd. and Union
Carbide Corp. for a third ethylene plant at NOVA's petrochemicals
complex in Joffre, Alberta.
SW/FD will provide engineering, procurement and construction
(EPC) as well as project management services for the 2.8-billion
pound-per-year facility, which will be jointly owned by NOVA
Chemicals and Union Carbide.
The new contract is a major extension of the initial July 1996
award for this complex, which included technology licensing,
process design and overall project management. SW/FD's contract
value is approximately US$630 million.
The new plant is scheduled for completion in the year 2000.
Initial design work is being completed in Houston, with detailed
design, procurement and construction services to be executed in
Alberta.
NOVA is the owner project manager and also will operate the new
plant. Upon start-up, the combination of the new plant with the
existing ones will make the Joffre site the largest ethylene
manufacturing complex in the world, with an annual capacity
exceeding 6 billion pounds. The two existing ethylene plants were
built in 1979 and 1984. Construction of the new plant will
commence in the spring of 1998.
Stone & Webster/Fluor Daniel Petrochemicals, with headquarters in
Houston, is an exclusive worldwide joint venture, providing EPC
and project management consulting services associated with
ethylene, ethylene derivatives and petrochemical complexes. Stone
& Webster (NYSE-SW) and Fluor Daniel, the principal subsidiary of
Fluor Corp. (NYSE-FLR), are full-service engineering and
construction companies with operations worldwide.
NOTE: Fluor Corp. releases are available on Fluor's Corporate News
on the Net site at businesswire.com. |
