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)