The Department of Energy has awarded a Fluor-led (NYSE: FLR) team a potential $12 billion contract to continue operating and managing the Savannah River Site in South Carolina for the next five years.
Savannah River Nuclear Solutions will extend its environmental management and waste cleanup operations at the nuclear reservation facility through September 2027, Fluor said Thursday.
The extension award has a base period of four years along with a one-year option.
Fluor will post the company’s estimated $4.5 billion share of the total reimbursable contract value in its third-quarter financial report.
Tom D’Agostino, group president of Fluor’s mission solutions business, said the partnership is working to ensure operational efficiencies and carry out capital projects at the site.
The Savannah River Site maintains the U.S. nuclear weapons stockpile, stores nuclear weapon materials for U.S. nuclear non-proliferation activities and cleans up legacy materials and wastes left from the Cold War.