U.S. Department of Energy Selects Fluor Joint Venture for Paducah Site Deactivation Contract
- Fluor
Corporation (NYSE:FLR) announced today that the U.S. Department of
Energy (DOE) has selected Four Rivers Nuclear Partnership (FRNP), LLC, a
joint venture comprised of CH2M, Fluor Corporation and BWX Technologies,
to lead the Paducah Deactivation and Remediation (D&R) Contract at the
Paducah Gaseous Diffusion Plant in Kentucky.
The performance-based contract is valued at approximately $1.5 billion over 10 years. The base term is five years valued at approximately $750 million followed by 3-year and 2-year option periods valued at an approximate total of $750 million combined.
“In just three short years, Fluor has made significant progress at the Paducah site and has built strong relationships within the community,” said Bruce Stanski, president of Fluor’s Government Group. “Most importantly, we’ve made facilities safer by removing hazardous and radioactive materials while improving the site's infrastructure. These efforts will save taxpayers millions of dollars over the next several years while improving safety for the workers, the general public and the environment. Fluor looks forward to our future at the site and continuing the mission, which will bring additional value to the government.”
The Paducah site is situated on approximately 3,500 acres in western Kentucky, approximately 8 miles west of Paducah, and 3.5 miles south of the Ohio River. The site, built in the 1950s as part of the nation’s nuclear weapons complex, processed uranium from 1952 to 2013 for military reactors, nuclear weapons and nuclear power plant fuels. The D&R contract includes management of more than 650 structures, properties and buildings. Throughout the contract duration, the team will optimize surveillance and maintenance costs to allow for additional stabilization, deactivation and remediation activities, thereby further reducing risk and future demolition costs.
For more than 70 years, Fluor has served as a DOE contractor with a legacy that dates back to the Manhattan Project. In addition to the Savannah River Site management and operations work in South Carolina, Fluor supports DOE’s cleanup missions at the Idaho Site under the Idaho Cleanup Project Core Contract and is the prime contractor for the decontamination and decommissioning of the Portsmouth Gaseous Diffusion Plant in Piketon, Ohio. Fluor also manages and operates the Strategic Petroleum Reserve, headquartered in New Orleans, for DOE’s Office of Fossil Energy.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served our clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500 list with revenue of $19 billion in 2016 and has more than 60,000 employees worldwide. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.
ContactsFluor Corporation
Media Relations
Brian Mershon, 469-398-7621
or
Brett Turner, 864-281-6976
or
Investor Relations
Geoff Telfer, 469-398-7070
or
Jason Landkamer, 469-398-7222
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IRVING, Texas–(BUSINESS WIRE)–Fluor
Corporation (NYSE:FLR) announced today that the U.S. Department of
Energy (DOE) has selected Four Rivers Nuclear Partnership (FRNP), LLC, a
joint venture comprised of CH2M, Fluor Corporation and BWX Technologies,
to lead the Paducah Deactivation and Remediation (D&R) Contract at the
Paducah Gaseous Diffusion Plant in Kentucky.
The performance-based contract is valued at approximately $1.5 billion
over 10 years. The base term is five years valued at approximately $750
million followed by 3-year and 2-year option periods valued at an
approximate total of $750 million combined.
“In just three short years, Fluor has made significant progress at the
Paducah site and has built strong relationships within the community,”
said Bruce
Stanski, president of Fluor’s Government Group. “Most importantly,
we’ve made facilities safer by removing hazardous and radioactive
materials while improving the site’s infrastructure. These efforts will
save taxpayers millions of dollars over the next several years while
improving safety for the workers, the general public and the
environment. Fluor looks forward to our future at the site and
continuing the mission, which will bring additional value to the
government.”
The Paducah site is situated on approximately 3,500 acres in western
Kentucky, approximately 8 miles west of Paducah, and 3.5 miles south of
the Ohio River. The site, built in the 1950s as part of the nation’s
nuclear weapons complex, processed uranium from 1952 to 2013 for
military reactors, nuclear weapons and nuclear power plant fuels. The
D&R contract includes management of more than 650 structures, properties
and buildings. Throughout the contract duration, the team will optimize
surveillance and maintenance costs to allow for additional
stabilization, deactivation and remediation activities, thereby further
reducing risk and future demolition costs.
For more than 70 years, Fluor has served as a DOE contractor with a
legacy that dates back to the Manhattan Project. In addition to the
Savannah River Site management and operations work in South Carolina,
Fluor supports DOE’s cleanup missions at the Idaho Site under the Idaho
Cleanup Project Core Contract and is the prime contractor for the
decontamination and decommissioning of the Portsmouth Gaseous Diffusion
Plant in Piketon, Ohio. Fluor also manages and operates the Strategic
Petroleum Reserve, headquartered in New Orleans, for DOE’s Office of
Fossil Energy.
About Fluor Corporation
Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that designs, builds
and maintains capital-efficient facilities for its clients on six
continents. For more than a century, Fluor has served our clients by
delivering innovative and integrated solutions across the globe. With
headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500 list
with revenue of $19 billion in 2016 and has more than 60,000 employees
worldwide. For more information, please visit www.fluor.com or
follow us on Twitter @FluorCorp.
Contacts
Fluor Corporation
Media Relations
Brian Mershon, 469-398-7621
or
Brett
Turner, 864-281-6976
or
Investor Relations
Geoff Telfer,
469-398-7070
or
Jason Landkamer, 469-398-7222
