Fluor Announces Q3 Contracts from Dow for Net-Zero Ethylene Cracker and Derivatives Complex in Canada

Dow’s net-zero scope 1 and 2 emissions complex will be the first of its kind in the world

As previously announced and recognized in the third quarter on a confidential basis, Fluor Corporation (NYSE: FLR) was awarded two contracts from Dow for the construction of the world’s first net-zero scope 1 and 2 emissions integrated ethylene cracker and derivatives complex in Fort Saskatchewan, Alberta, Canada.

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Dow’s Fort Saskatchewan, Alberta, Canada site. (Photo: Business Wire)

The reimbursable services contracts represent a total value of more than $3 billion and consist of engineering, procurement and construction management for a new ethylene cracker unit and for the associated utilities, power and infrastructure facilities. The overall program also includes the expansion and retrofit of Dow’s existing manufacturing facilities.

Dow announced in November that its board of directors declared the Final Investment Decision for the project, which is part of Dow’s Path2Zero program, intended to lower the greenhouse gas emissions of its manufacturing facilities while growing capacity and delivering low-emissions products to customers.

“This program represents a major step towards Dow’s commitment to decarbonize its global footprint,” said Jim Breuer, group president of Fluor’s Energy Solutions business segment. “We have a long history of successful project execution with Dow, and we are grateful to be given the opportunity to support their objective to be a leader in sustainable chemicals production.”

Dow’s net-zero scope 1 and 2 emissions integrated ethylene cracker and derivatives complex is projected to decarbonize approximately 20% of the company’s global ethylene capacity while growing its polyethylene capacity by approximately two million metric tonnes per annum.

“Fluor has been a great partner over decades and this project builds on Dow’s very successful Texas-9 and associated projects, delivering more than 15% return on invested capital since its 2017 start-up,” said Ron Huijsmans, Dow’s Global MEGA Project Director. “We are excited to have Fluor on board again to deliver a similar or even better project outcome.”

In February, Fluor was awarded the front-end engineering and design contract for the project. Construction began in July on early works and the program is expected to come online in phases, with the first phase starting up in 2027 and the second phase starting up in 2029.

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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Brett Turner Media Relations 864.281.6976

Jason Landkamer Investor Relations 469.398.7222

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