Fluor Team Awarded Environmental Management Contract for Department of Energy’s Savannah River Site

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) announced that the U.S. Department of Energy has selected its joint venture, Savannah River Mission Completion, LLC, to execute a $21 billion contract for environmental management at the Savannah River Site over ten years. The contract encompasses liquid waste stabilization, nuclear materials management, and other tasks. This new contract reinforces Fluor's ongoing commitment to the Savannah River community, leveraging extensive experience to ensure safe and cost-effective project execution.

Positive

• Awarded a $21 billion contract from the U.S. Department of Energy over 10 years.
• Involves key responsibilities in liquid waste stabilization and nuclear materials management.
• Strengthens Fluor's long-term presence and community relationships at the Savannah River Site.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Savannah River Mission Completion, LLC (SRMC)—a joint venture led by a subsidiary of BWX Technologies, Inc., with Fluor and Amentum—to execute the Savannah River Site (SRS) Integrated Mission Completion Contract. The single indefinite-delivery/indefinite-quantity contract is valued at up to $21 billion over a 10-year ordering period of performance.

Fluor team was awarded an Environmental Management Contract for Department of Energy’s Savannah River Site in South Carolina. (Photo: Business Wire)

The contract’s scope of work includes liquid waste stabilization and disposition, and potentially nuclear materials management and stabilization, and other requirements.

“Fluor has been a part of the Savannah River Site community for 13 years and we’re looking forward to continuing these ongoing efforts with this new work in the liquid waste market,” said Tom D’Agostino, president of Fluor’s Mission Solutions business. “The SRMC team’s experience and integrated approach enables us to optimize liquid waste operations to complete this large-scale cleanup effort safely and cost effectively. We look forward to building upon our relationships in the community and with regulators to move DOE’s SRS mission forward.”

The SRMC team also includes two pre-selected small businesses—DBD and woman-owned Wesworks—that provide specialized simulation and modeling and project controls expertise, respectively.

SRS is a 310-square-mile site that encompasses parts of Aiken, Barnwell and Allendale counties in South Carolina and is bordered on the west by the Savannah River and Georgia.

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 44,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $14.2 billion in 2020 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has been providing engineering, procurement and construction services for more than 100 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/20211028006007/en/

Brian Mershon

Media Relations

469.398.7621

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is the value of the contract awarded to Fluor Corporation by the U.S. Department of Energy?

The contract is valued at up to $21 billion over a 10-year period.

What is the main focus of the contract awarded to Fluor Corporation?

The contract focuses on environmental management, specifically liquid waste stabilization and nuclear materials management.

Which joint venture is Fluor Corporation part of for the Savannah River Site contract?

Fluor is part of the Savannah River Mission Completion, LLC joint venture.

How long will the Savannah River Site contract last?

The contract will last for 10 years.

What significant work will Fluor Corporation perform under the new contract?

Fluor will work on liquid waste stabilization and potentially manage nuclear materials.