Fluor-CH2M-BWXT JV Lands $1.5B DOE Paducah Site Remediation Contract

A joint venture of Fluor (NYSE: FLR), CH2M and BWX Technologies (NYSE: BWXT) has received a potential 10-year, $1.5 billion contract from the Energy Department to provide nuclear remediation and deactivation support for the Paducah gaseous diffusion facility in Kentucky.

The Four Rivers Nuclear Partnership JV will oversee at least 650 buildings and structures and optimize maintenance and surveillance costs to facilitate additional remediation and deactivation operations under the contract, Fluor said Tuesday.

The contract has a base term of five years worth approximately $750 million and five option years valued at $750 million combined.

Established in the 1950s, the Paducah site was part of the U.S. nuclear weapons complex that produced uranium for nuclear power plant fuels, nuclear weapons and military reactors between 1952 and 2013.

DOE has awarded Fluor contracts to provide management, decontamination and cleanup support services across several sites that include the Portsmouth Gaseous Diffusion Plant in Ohio, Idaho Site and the Savannah River Site in South Carolina.

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