Fluor Wins FEED Contract for Potash Mining Project in East Africa
Danakali Limited selects Fluor following competitive bid process
Fluor Corporation (NYSE: FLR) was awarded a front-end engineering, design and optimization (FEED) contract by
Danakali Limited (ASX: DNK) in Eritrea, East Africa for the Colluli Potash Project following a competitive tendering process
initiated and completed in 2016. Fluor will book the undisclosed contract value in the first quarter of 2017.
“Fluor will provide a highly qualified design and optimization team with world-class process infrastructure credentials for this
important fertilizer project,” said Rick Koumouris, president of Fluor’s Mining & Metals business. “In addition to working with Danakali to
maximize project capital efficiency during the study and execution phases of this project, Fluor will bring top-notch project
financing expertise and assistance to help Danakali advance this project to the next phase.”
“We are delighted to be working with Fluor as we progress the Colluli project,” said Paul Donaldson, managing director of
Danakali. “The combination of Fluor’s values, people, reputation, optimization approach, mining and metals expertise, experience in
Africa, and potash-specific experience will benefit the project significantly as it progresses towards construction.”
Colluli is one of the most advanced greenfield sulfate of potash developments in the world and demonstrates outstanding
economics including industry leading capital intensity, bottom quartile operating costs, close proximity to the coast and key
markets, and unrivaled product diversification potential. Sulfate of potash is a high quality potash fertilizer used for farming
crop development and yield maximization around the globe.
The Colluli deposit is located in the Danakil region of Eritrea, East Africa. Colluli is approximately 177 kilometers southeast
of the capital, Asmara, and 180 kilometers from the port of Massawa (230 kilometers by road), which is Eritrea’s key import-export
entry.
Approval of the social and environmental impact assessment for the project was given by the Ministry of Land, Water and
Environment in December 2016. The award of the Mining Agreement and Mining License for the project is well progressed.
Danakali is an ASX-listed company and 50 percent owner of the Colluli Potash Project in Eritrea, East Africa. The company is
currently developing the Colluli Project in partnership with the Eritrean National Mining Company (ENAMCO).
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. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.
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