A joint venture of Fluor (NYSE: FLR) and Empresas ICAÂ (NYSE: ICA) willÂ begin engineering, procurement and construction work on a diesel refinery in Mexico under aÂ $1 billion contract withÂ Mexican state-owned petroleum firm Pemex Transformacion Industrial.
ICA Fluor will provide commissioning services for two diesel hydrodesulfurizationÂ trains and related facilities under phase two of the Madero Clean Diesel projectÂ in Tamaulipas, Mexico, Fluor said Monday.
The construction of the refining facility is part of Pemex’s clean fuels initiative that aims to boost Mexico’s sulfur dieselÂ production.
Work also covers the integration of the new diesel refinery with an existing production facility as well as the installation of sulfur recovery, hydrogen and sour water treatment plants.
Fluor expects the project to conclude by the first quarter of 2018.