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IRVING, TX-Fluor Corp., with a revenue of $13.2 billion in 2005, has already booked a new $2.2-billion contract for the third quarter of 2006. That move followed the locally based company’s selection to provide engineering, procurement services and construction management for the utilities and offsite facilities for Saudi Kayan’s peterochemical complex in Al-Jubail on the eastern coast of Saudi Arabia.

The Fluor announcement helped the company’s common stock on the New York Stock Exchange rise by 4%. The stock is trading in the $84 to $85 per-share range.

Saudi Kayan is a joint venture between the state-owned Saudi Basic Industries Corp., the biggest petrochemical producer in the Middle East, and Al-Kayan Petrochemical Co. “This project will utilize 17 licensed technologies and will produce both specialty amine derivatives and polycarbonates for the first time in Saudi Arabia,” Fluor president for energy and chemicals Jeff Faulk says in a prepared statement. “As the heart of the complex, the execution of the utilities and offsite facilities will be instrumental to the overall success of the project.”

Faulk says that up to 1,000 engineers and 12,000 laborers will be used at the project’s peak development period. Saudi Kayan president Abdulllah Al-Rabeeah says the petrochemical complex is vital to Saudi Arabia. Fluor “brings the best experience available to the program,” he adds. Engineering on the utilities and offsite facilities began in July 2006. Construction is scheduled to start in February 2007.

Al-Rabeeah says that once completed in December 2009, the petrochemical complex will include benzene extraction facilities; a 700,000-tons-per-year polyethylene plant; a polypropylene plant with capacity of at least 350,000 tons per year; and a 530,000-tons-per year glycol unit. An integrated phenolics plant, including cumene, phenol and Bisphenol-A units, will produce feedstock for a 260,000-tons-per year, high-value polycarbonates plant.

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