Fluor wins $465m contract

Fluor wins $465m contract

JAKARTA (JP): Fluor Daniel, a U.S. engineering company, has won a contract worth US$465 million for the engineering, procurement of goods and the construction of a debottlenecking project at the Cilacap oil refinery, in Central Java.

Fluor Daniel announced here Saturday that the contract from the state-owned oil company Pertamina also covers the building of a new lubricating oil plant at the Cilacap refinery complex.

The project will cost $663 million.

A consortium of 29 banks, led by Citicorp of the United States, has pledged to finance the project, whose construction is scheduled to start next year.

When the project is completed, the Cilacap oil refining capacity of 300,000 barrels a day at present will increase by 16 percent and its current lube oil capacity of 260,000 tons a year will expand by 71 percent. (04)