Fluor Joint Venture Awarded U.S. Department of Energy Hanford Integrated Tank Disposition Contract

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has been awarded a significant contract by the U.S. Department of Energy (DOE) for the Hanford Integrated Tank Disposition, valued at up to $45 billion over a period of 10 years. This project involves environmental management operations at the Hanford Site in Washington state, which is critical for cleaning up radioactive waste from past nuclear fuel production. Fluor will operate the Hanford tank farm facilities and manage operations at the Waste Treatment and Immobilization Plant, among other responsibilities. This marks a continuation of Fluor's commitment to the Tri-Cities community, where it has been active for over 25 years.

Positive

• Awarded a $45 billion contract from DOE for the Hanford Integrated Tank Disposition.
• Project crucial for environmental management and cleanup of radioactive waste.
• Fluor's long-term presence in the Tri-Cities community enhances local relations.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Hanford Tank Waste Operations & Closure, LLC (H2C) – a joint venture led by a subsidiary of BWX Technologies, Inc., with Fluor and Amentum – to execute the Hanford Integrated Tank Disposition Contract. The new contract has an estimated ceiling of $45 billion over a 10-year ordering period for environmental management operations at the Hanford Site in Washington state.

An aerial view of the Hanford Site in Washington state. (Photo: Business Wire)

“We’ve been a proud member of the Tri-Cities community for more than 25 years, beginning with the Project Hanford Management Contract in 1996, through our role today on the Central Plateau Cleanup Contract,” said Tom D’Agostino, group president of Fluor’s Mission Solutions business. “The scope of work under this new contract is critical to the mission of cleaning up Hanford and we are excited to begin building on the progress the tank farm facilities have already achieved in removing and processing tank waste. We look forward to supporting the DOE and other site contractors in this effort and reinforcing Fluor as a responsible corporate citizen within the community.”

The contract scope includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and responsibility for other core functions such as project management, security and emergency services, business performance, and environment, safety, health and quality.

The Hanford Site is a decommissioned nuclear production complex operated by the U.S. federal government on the Columbia River in Benton County, Washington. It has 177 large underground tanks holding approximately 56 million gallons of radioactive waste. The waste resulted from the production of nuclear fuel for the site’s reactors that once produced plutonium for the U.S.’ defense program.

About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 40,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $13.7 billion in 2022 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005773/en/

Brett Turner

Media Relations

864.281.6976

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What contract did Fluor Corporation win from the U.S. Department of Energy?

Fluor Corporation secured a contract for the Hanford Integrated Tank Disposition, valued at up to $45 billion.

How long is the new Fluor contract with the DOE for the Hanford project?

The contract has a duration of 10 years.

What is the purpose of the Hanford Integrated Tank Disposition contract?

The contract focuses on environmental management operations and cleanup of radioactive waste at the Hanford Site.

What is the significance of the Hanford Site in Washington state?

The Hanford Site is a decommissioned nuclear production complex, critical for the management of approximately 56 million gallons of radioactive waste.

How long has Fluor Corporation been involved in the Tri-Cities community?

Fluor has been a part of the Tri-Cities community for over 25 years.