Fluor Achieves Mechanical Completion on BASF’s New Verbund Site Project in South China

Key Terms

engineering, procurement and construction technical

A contract model where a single firm is responsible for designing a project, buying the necessary materials and equipment, and building it to completion — like hiring one general contractor to plan, shop for, and construct a house. Investors care because these contracts concentrate responsibility and risk in one party: a fixed-price, turnkey deal can offer predictable revenue and clearer timelines, but cost overruns, delays or quality problems can directly affect a contractor’s profits and a project owner’s returns.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that it has achieved mechanical completion on BASF’s Zhanjiang Verbund project in China – BASF’s largest investment to date. The achievement was delivered with an outstanding safety record of more than 75 million work hours without a Lost Time Injury.

BASF’s Zhanjiang Verbund site in China.

“This milestone highlights Fluor’s commitment to safe and quality execution on complex, world‑class chemical projects,” said Pierre Bechelany, Fluor’s Business Group President of Energy Solutions. “I commend our teams and partners for their disciplined delivery and exceptional performance. We are honored to support BASF’s strategic growth in China with this new Verbund site project.”

Fluor provided critical engineering, procurement and construction support for BASF’s integrated operations, including an EOEG process unit, 220kV substation, steam plant, water treatment systems, seawater intake, distributed cooling towers, wastewater treatment and waste handling units, container yard, automated warehouses, and site‑wide piping and logistics infrastructure.

“Delivering the project is a tremendous achievement and a proud moment for our team,” said Charles McManemin, President of Fluor’s Chemicals business. “Our long-standing partnership with BASF is built on trust, technical excellence and a shared commitment to safe, reliable project execution. This milestone reflects years of collaboration, innovation and disciplined performance across all phases of work.”

Fluor began early site work in late 2021 and, at peak, approximately 13,000 workers were engaged across multiple construction areas.

Once fully operational, the Zhanjiang Verbund Site will be BASF’s third largest Verbund site worldwide after Ludwigshafen and Antwerp. The site will serve as a model for sustainable production in China and globally, and mainly supply customers in the Chinese market, the largest and fastest growing chemical market in the world.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 27,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $16.3 billion in 2024 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.

#EnergySolutions

View source version on businesswire.com: https://www.businesswire.com/news/home/20260108471342/en/

Brett Turner

Media Relations

864.281.6976

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation