Fluor to lead $700 million project
19 Nov 2003
Fluor Corporation today announced that it will lead a consortium to develop a chemicals complex that will be located in the Shanghai Chemicals Investment Park near Shanghai, China. Fifty per cent of the $700 million contract will go to Fluor.
The clients of the project are three joint-venture companies comprised of BASF, Huntsman, Shanghai Chlor Alkali Chemical Company Ltd, Sinopec Shanghai Gao Qiao Petrochemical Corporation and Shanghai Hua Yi (Group) Company.
When complete in July 2006, the chemicals complex will produce basic materials for use in foam insulation and cushioning for appliances, refrigerators, construction, cars, furniture, carpet padding and packing.
Fluor will serve as the managing partner of the project-execution consortium, which will provide engineering, procurement and construction management services for the project.
Fluor is teamed with Daelim of South Korea and CTCI of Taiwan to execute the project. Additionally, three Chinese Design Institutes -- Sinopec Shanghai Engineering Company, Chengda and Jingding Engineering Co., Ltd -- will provide a majority of the engineering services.
Work is said to be under way in Fluor's Shanghai office, with the engineering phase expected to last 15 months. Construction will commence in 2004. At the peak of construction approximately 8,000 construction labourers will be working on site.
