At the time of last check in pre-market trading, Fluor Corporation (FLR) was up 5.96% at $21.5. During the last trading session, Fluor Corporation (FLR) stock rose 2.37% or $0.47 to $20.29. Stock prices moved between $20.02 and $20.64 during trading. The number of FLR shares exchanged during the session was 4.18 million, greater than the company’s 50-day daily volume of 2.25 million and higher than its Year-to-date volume of 2.5 million.
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FLR stock has gained 64.03% in the past 12 months, and in the past week, it is up 2.42%. FLR stock has lost -17.79% over the last six months, and increased 19.99% over the last three months. This year, FLR stocks have gained 27.05%. An installation project secured by FLR’s joint venture boosted FLR stock value.
What will FLR install?
Fluor Corp is improving the world by bringing world-class knowledge to its clients’ most critical concerns. FLR employs 44,000 people worldwide to deliver professional and technical solutions that ensure projects are safe, well-executed, and cost-effective.
FLR generated $14.2 billion in revenue in 2020 and was placed 196 on the Fortune 500 list. FLR maintains its headquarters in Irving, Texas, where it has been providing engineering, procurement, and construction services for over a century.
PT Freeport Indonesia has chosen Fluor Corp, through its joint venture with Petrosea, to build a new grinding mill in its Grasberg copper and gold mining region in Papua, Indonesia. FLR booked the Undisclosed component of the contract in the third quarter of 2021.
- Fluor Petrosea Joint Organization (FPJO) will construct a third semi-autogenous grinding mill as the mining region ramps up underground output (SAG).
- Since the open pit mine’s completion in 2019, output has been led by the Grasberg Block Cave and Deep Mill Level Zone mines.
- Milling capacity will be increased to roughly 240,000 tonnes per day with the new SAG mill.
- Since the 1980s, FLR has enlarged Grasberg multiple times, as well as several other big projects in Indonesia.
- FLR enjoys the confidence it has won with Freeport over the years as a worldwide solution supplier for global copper demand.
What is FLR’s plan for the project?
The Grasberg project is located in the isolated Sudirman Mountain Range in the western side of the island of New Guinea. The project will be overseen by FLR’s Australia branch in Perth, in addition to Fluor’s operations in Jakarta and Vancouver. Fluor Corp (FLR) plans to start work on the project later this year, with completion expected in 2023.