Fluor Receives Notice to Proceed for New LCRA Gas Power Plant in Texas

Fluor Corporation (NYSE: FLR) announced today that it was issued a notice to proceed by LCRA to build a new natural gas-fired power plant in Horseshoe Bay, Texas. LCRA’s Ferguson Replacement Project, a 540-megawatt combined-cycle power plant, received the required air permits from the Texas Commission on Environmental Quality and the U.S. Environmental Protection Agency. Fluor will book the undisclosed contract value into backlog in the fourth quarter of 2011.

Fluor is providing engineering, procurement and construction (EPC) services for the project. The engineering and procurement phase, which will last for several months, is currently under way.

"We are delighted LCRA has received the required air permits and has given Fluor a full notice to proceed on this new clean energy project in Texas," said Dave Dunning, president of Fluor's Power Group. "Our significant EPC experience in Texas will allow us to staff this project with many quality local hires while capitalizing on our experience installing nearly 60,000 megawatts of gas-fired capacity over the past 20 years."

"This is a firm commitment from LCRA that we are moving forward with this advantageous project,” said LCRA General Manager Becky Motal. "Our customers will benefit from our ability to better manage costs with a plant that will use about 35 to 40 percent less fuel than traditional gas-fired plants, and the community will benefit from the latest environmental controls and a contribution to the local economy with the plant’s construction.”

The design for the plant incorporates new technology, including environmental controls, while providing a new clean energy source for Texas residents.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information, visit www.fluor.com.