Saudi Petrochemical selects Fluor Daniel to oversee processing facility

Fluor Daniel, the engineering and construction unit of Fluor Corporation, announced that it has been named to oversee the development of a privately owned petrochemical processing facility in Saudi Arabia with a total installed cost of $ 800 mm.
Initially, Fluor expects to book approximately $ 10 mm in the fiscal third quarter for program management and engineering services on the project. Saudi International Petrochemical Company selected Fluor Daniel to provide basic engineering, front-end engineering design, and overall program management for the facility, which will be located in Al-Jubail, Saudi Arabia. Work is expected to begin in July, with completion projected for late 2003, officials said. "Fluor is especially gratified to win this project because it represents another major contribution to an expanding private-sector in Saudi Arabia," said David Seaton, Vice President of Sales for Europe, Africa and the Middle East in the Oil, Gas & Chemicals unit of Fluor Daniel.
Upon completion,the complex will produce methanol, acetic acid, butanediol and vinyl acetate monomer, which can be further derived to produce a variety of industrial, commercial and consumer uses, officials noted.

SIPC is a Saudi joint stock company incorporated in Riyadh with a paid-in capital of $ 133 mm by a diverse group of investors from Saudi Arabia (65 %) and other GCC countries (35 %).

With 1999 revenues of $ 12.4 bn, Fluor Corporation, which is headquartered in Aliso Viejo, California, provides services on a global basis in the fields of engineering, procurement, construction, maintenance and operations, project management, consulting and coal production.