Fluor Bags EPCM Contract In Australia

Fluor Corp’s FLR Mining & Metals business has secured a contract to perform engineering, procurement, and construction management (EPCM) for Iluka Resources Limited’s Eneabba project. Financial terms were not disclosed.
Eneabba project is a fully integrated rare earth refinery in Eneabba, Western Australia.
Fluor will complete the front-end engineering design and execute the EPCM services to deliver the refinery. It will book the undisclosed reimbursable contract value in 2Q22.
Construction of the refinery is scheduled to begin later this year, with the first production expected in 2025.
Price Action: FLR shares are trading lower by 1.65% at $24.42 on the last check Wednesday.

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