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|U.S. Department of Energy Awards Fluor-Led Team 10-Year, $2.1 Billion Contract for Portsmouth Cleanup|
IRVING, Texas, Aug 16, 2010 (BUSINESS WIRE) --
Fluor Corporation (NYSE: FLR) announced today that Fluor-B&W Portsmouth LLC, was chosen by the U.S. Department of Energy (DOE) for the next phase of cleanup at the Portsmouth site in Pike County, Ohio. As the prime contractor for the decontamination and decommissioning of the Portsmouth Gaseous Diffusion Plant (GDP), it is anticipated that the new contract will help reduce environmental risks and create local job opportunities. The estimated value of the contract is approximately $2.1 billion over 10 years, which includes an initial five-year period plus a potential five-year extension based on performance and the government's need. Fluor will book the project into backlog once a finalized contract is in place.
"We are extremely proud to be chosen by the DOE for this important and strategic work at the Portsmouth site," said Bruce Stanski, president of Fluor's Government Group. "Fluor's track record of success within the DOE Complex at Savannah River, Hanford and Fernald are testaments to our ability to achieve significant project milestones while maintaining industry-leading safety standards. Our entire team stands ready to begin work and help accomplish the DOE's vision for an expedited cleanup and job creation."
The DOE Portsmouth GDP is located near Piketon, in southeastern Ohio. The Portsmouth GDP is a 3,778-acre federal reservation that was built in the early 1950s as part of the nation's nuclear weapons complex and enriched uranium from 1954 until 2001. Limited cleanup activities at the site have been underway since the 1990s, but this is the first contract at the Portsmouth site that includes decontamination and decommissioning of the three massive uranium enrichment process buildings. The buildings each have a footprint of more than 30 acres and they contain thousands of stages of uranium enrichment equipment.
Fluor-B&W Portsmouth LLC is led by Fluor and includes Babcock & Wilcox. Additional subcontractors and small business protégés include Professional Project Services, Inc. (Pro2Serve), Innovative Solutions Unlimited, LLC and Wastren Advantage, Inc. For the Portsmouth GDP work, Fluor-B&W Portsmouth's scope of work will include decontaminating and demolishing three massive process structures (X-333, X-330 and X-326) at the site along with cleaning up and remediating contaminated soils and groundwater.
Fluor has a long history of experience within the DOE Complex including its current role as the managing partner of Savannah River Nuclear Solutions LLC which is in charge of management and operations at the Savannah River Site in South Carolina. Fluor has worked at the Hanford Site in Washington State since 1996, including the role of the Site's prime contractor for 12 years. From 1992 to 2006, Fluor executed nuclear cleanup work at the DOE's Fernald Site near Cincinnati, Ohio. The project was originally estimated to take as much as 27 years to complete at a cost of $12.2 billion. Fluor Fernald completed the cleanup years ahead of schedule and billions of dollars under projected budget.
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenues of $22 billion in 2009. For more information visit www.fluor.com.
SOURCE: Fluor Corporation