Fluor Achieves Substantial Engineering Completion for Albemarle Lithium Conversion Project

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has announced substantial engineering completion for Albemarle's Lithium Conversion project in Meishan City, Sichuan Province, China. This facility aims to produce 50,000 tons of lithium hydroxide per year, crucial for electric vehicle batteries. The project has reported over 3 million safe hours worked, showcasing significant safety milestones. Fluor continues to provide engineering, procurement, and construction management services, positioning Albemarle as a key player in the growing lithium market.

Positive

• Achieved substantial engineering completion for Albemarle's Lithium Conversion project.
• Facility will produce 50,000 tons of lithium hydroxide annually.
• Reported over 3 million safe hours worked on the project.

Negative

• None.

IRVING, Texas & SHANGHAI, China--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that it has achieved substantial engineering completion for Albemarle’s Lithium Conversion project in China.

Fluor has reached the substantial engineering milestone for Albemarle's lithium conversion project at Meishan City in the Sichuan Province of China. When complete, the facility will produce 50,000 tons of lithium hydroxide per year. (Photo: Business Wire)

Fluor is providing engineering, procurement and construction management services for the facility. Lithium is an essential precursor material for high performance lithium-ion batteries for electric vehicles. When complete, the facility will produce 50,000 tons of lithium hydroxide per year.

“We are off to a great start on this project as the team has achieved more than 3 million safe hours,” said Jim Breuer, group president, Energy Solutions, Fluor Corporation. “We are excited to work on this important project that will expand Albermarle’s position as an industry leader in lithium and lithium derivatives, one of the highest growth markets in the specialty chemicals sector.”

The project site is located in Meishan City in the Sichuan Province of China. Fluor’s Shanghai, China, operations center is leading the project.

Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221114006037/en/

Brian Mershon

Media Relations

469.398.7621



Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is the recent news about Fluor Corporation (FLR) regarding its lithium project?

Fluor Corporation has achieved substantial engineering completion for Albemarle's Lithium Conversion project in China.

How much lithium hydroxide will the new facility produce annually?

The facility is expected to produce 50,000 tons of lithium hydroxide per year.

Where is the lithium conversion project located?

The project is located in Meishan City, Sichuan Province, China.

What safety milestone has Fluor achieved in its lithium project?

Fluor has reported achieving over 3 million safe hours worked on the project.

What role is Fluor Corporation playing in Albemarle's lithium project?

Fluor is providing engineering, procurement, and construction management services for the project.