Fluor Team Awarded DOE Portsmouth Gaseous Diffusion Plant Decontamination and Decommissioning Contract

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has been awarded a $5.87 billion contract by the U.S. Department of Energy for the decontamination and decommissioning of the Portsmouth Gaseous Diffusion Plant in Piketon, Ohio. The 10-year contract includes demolition, disposal, remediation of contaminated soils and groundwater, and disposition of uranium material. Fluor will book its initial annual portion of the contract in the third quarter of 2023.

Positive

• Fluor Corporation (NYSE: FLR) has secured a substantial 10-year contract worth $5.87 billion from the U.S. Department of Energy, showcasing the company's strong performance record in decontamination and decommissioning work. The contract includes a wide range of tasks, from demolition and disposal to remediation of contaminated areas and disposition of uranium material, positioning Fluor for significant growth and revenue in the coming years.
• The contract's estimated value of $5.87 billion over 10 years, with the potential for an additional five years, presents a lucrative opportunity for Fluor Corporation (NYSE: FLR) and its partners to establish a long-term presence in the southern Ohio region, demonstrating commitment to environmental and economic sustainability.

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• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Southern Ohio Cleanup Company, LLC, a joint venture led by Amentum with Fluor and Cavendish Nuclear USA, to execute the Portsmouth Gaseous Diffusion Plant Decontamination and Decommissioning Contract in Piketon, Ohio. The single award Master Indefinite-Delivery/Indefinite-Quantity contract under the End State Contracting Model has an estimated value of $5.87 billion, over a 10-year ordering period, and performance of task orders issued up to an additional five years. Fluor will book its initial annual portion of the contract in the third quarter of 2023.

The U.S. Department of Energy's Portsmouth Gaseous Diffusion Plant in Piketon, Ohio. (Photo: Business Wire)

The contract includes, but is not limited to, demolition and disposal of facilities, process equipment, related process buildings and other ancillary facilities. The contract also includes remediation of contaminated soils and groundwater, and disposition of uranium material.

Fluor-BWXT Portsmouth, LLC. has managed the decontamination and decommissioning work at the former Portsmouth Gaseous Diffusion Plant since March 2011.

“Fluor and our partners have an unsurpassed performance record of delivering on important decontamination and decommissioning work across the Department of Energy complex,” said Tom D’Agostino, president of Fluor’s Mission Solutions business. “We have worked at the Portsmouth site and have been involved in the community for the past 12 years—we know the importance of staying local. We are proud that this contract includes local small business partners who are committed to building an environmentally and economically sustainable future for southern Ohio. We look forward to maintaining our momentum and working collaboratively with the DOE, regulators, stakeholders and the community.”

The DOE Portsmouth site is a 3,700-acre federal reservation located in southern Ohio. It was built in the early 1950s by the U.S. Atomic Energy Commission as part of the nation’s nuclear weapons complex, producing enriched uranium from 1954 until 2001.

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 303 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/20230717533646/en/

Brett Turner

Media Relations

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Jason Landkamer

Investor Relations

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Source: Fluor Corporation

FAQ

What is the value of the contract awarded to Fluor Corporation (NYSE: FLR) by the U.S. Department of Energy?

The contract has an estimated value of $5.87 billion over a 10-year ordering period, with the potential for an additional five years.

What tasks are included in the contract awarded to Fluor Corporation (NYSE: FLR) by the U.S. Department of Energy?

The contract includes demolition, disposal, remediation of contaminated soils and groundwater, and disposition of uranium material.

Where is the Portsmouth Gaseous Diffusion Plant located?

The Portsmouth Gaseous Diffusion Plant is located in Piketon, Ohio, on a 3,700-acre federal reservation in southern Ohio.

How long will it take for Fluor Corporation (NYSE: FLR) to book its initial annual portion of the contract?

Fluor will book its initial annual portion of the contract in the third quarter of 2023.