Fluor to Build Ritz in Cayman Islands

Fluor Corp. said Friday it won a $125 million contract to build a Ritz-Carlton resort in the Cayman Islands.

The project will include a 365-room luxury hotel, restaurants, conference facilities, a full-service European-style spa, and a Greg Norman-designed golf course, the Aliso Viejo company said. Construction will begin this month, with the resort scheduled to open late next year.

Fluor is trying to boost earnings by concentrating on its engineering, procurement, construction and maintenance-services businesses. Ritz-Carlton is owned by Bethesda, Md.-based Marriott International Inc.

The stock rose 2 cents to $42.20 a share on the New York Stock Exchange.