ICA Fluor, the engineering company jointly owned by Fluor Corporation and Empresas ICA Sociedad Controladora, today announced the signing of a contract for the construction of a combined-cycle power plant in Altamira, Tamaulipas, Mexico.
The contract was awarded by Iberdrola Energia, a subsidiary of Spain’s Grupo Iberdrola. The total investment in the project will be approximately $570 million including the land, financing costs, generation equipment, and engineering, procurement and construction (EPC). The ICA Fluor contract includes only the EPC portion of the project.
The “Altamira V” generation plant will have a capacity of 1,180 megawatts and will provide electricity to the northern industrial zone of Mexico, as well as stabilising the electrical grid in the area. Power generated will be sold to the Federal Electricity Commission under its program to develop independent power producers.
The contract is a 36-month, lump sum, turnkey project that involves engineering, procurement, construction and start-up services and is scheduled for completion in November 2006.