Fluor Subsidiary Wins Chinese Plant Contract

Fluor Daniel Inc. said Tuesday it has won a contract to manage the design, procurement and construction of a $2.6-billion petrochemical project in Nanjing, China, for BASF-YPC Co.

Fluor said services such as those it has been contracted to perform generally range between 4% and 6% of a contract’s total value.

Construction is scheduled to begin in 2002, and the petrochemical site is expected to be fully functional by 2005.

The project will include nine facilities. The project will produce aromatics, low-density polyethylene and other chemicals.

BASF-YPC is a joint venture between two chemical companies--Germany’s BASF AG and China Petroleum & Chemical Corp.

Fluor Daniel is a subsidiary of Fluor Corp., an Aliso Viejo provider of engineering, construction and other services. The company reported $10 billion of revenue for the last 12 months.

Fluor’s stock closed Tuesday at $36.20, off $1.34 a share, on the New York Stock Exchange.