Fluor Wins Guinea Bauxite Mining Contract

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Fluor Wins Guinea Bauxite Mining Contract

Fluor Corporation announced that Guinea Alumina Corporation S.A. (GAC) has awarded Fluor an engineering and program management consultancy contract for a major bauxite mine in the Boké region of Guinea, Africa. Fluor booked the approximately $700 million contract value into backlog in the fourth quarter of 2016.

Working alongside GAC, Fluor will manage the development of a 12 million-tonne-per-annum bauxite mine, a dedicated export terminal in Port Kamsar and rail and other infrastructure upgrades. The mine, which is scheduled to begin production in 2018, will supply high-quality raw materials for alumina production facilities globally. Fluor successfully completed the feasibility study for GAC in the second quarter of 2016.

“Fluor has worked with GAC since the preliminary phase of the project to develop a customized, capital-efficient design to meet the company’s unique business objectives,” said Rick Koumouris, president of Fluor’s Mining & Metals business. “We will leverage our global expertise in marine structures, port terminals and mineral processing along with our experience in Guinea to deliver innovative design and project execution solutions that improve capital efficiency.”

“Guinea Alumina Corporation, a key investment for Emirates Global Aluminium, will drive significant local growth within Guinea and secure Emirates Global Aluminium’s position upstream in the aluminium chain,” said Abdulla Kalban, managing director and chief executive officer of Emirates Global Aluminium, which owns GAC. “We look forward to our continued relationship with Fluor to ensure further cost optimization and ultimately a safe and successful project.”

GAC is a wholly-owned subsidiary of Emirates Global Aluminium, which is equally owned by Mubadala Development Company and Investment Corporation of Dubai. The project serves as Emirates Global Aluminium’s entry into the global bauxite market.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served our clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500 list with revenue of $18.1 billion in 2015 and has more than 60,000 employees worldwide.

Source: www.fluor.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.