Danakali Limited selects Fluor following competitive bid process

IRVING, Texas--(BUSINESS WIRE)--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 quarterof 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 delight ed t o be working wit h Fluor as we progress t he Colluli project ,” said Paul Donaldson, managing direct or of Danakali. “The combinat ion of Fluor’s values, people, reput at ion, opt imizat ion approach, mining and met als expert ise, 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 indust ry leading capit al int ensit y, bot t om quart ile operat ing cost s, close proximit y t o t he 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 maximizat ion around t he 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 current ly developing t he Colluli Project in part nership wit h t he Erit rean Nat ional 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 client s by delivering innovat ive and int egrat ed solut ions across t he globe. Wit h headquart ers 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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Fluor wins FEED contract for Potash Mining Project in East Africa

Source URL: http://newsroom.fluor.com/press-release/company/fluor-wins-feed-contract-potash-mining-project-east-africa