• Most Popular
  • Most Shared

UPDATE 1-Fluor wins $1 bln contract for LDK Solar plant

Fri Sep 7, 2007 9:22am EDT

Stocks

   

(Adds details on contract, background)

NEW YORK, Sept 7 (Reuters) - U.S. engineering and construction company Fluor Corp (FLR.N) said on Friday it won a contract worth more than $1 billion to provide engineering, design and other services for a polysilicon plant for LDK Solar Co Ltd (LDK.N).

Fluor said it booked front-end engineering and design work in the third quarter, while the engineering, procurement and construction-management services would be booked in 2008.

The plant will be located in Xinyu City, China, adjacent to LDK Solar's existing solar wafer manufacturing plant.

LDK, which makes multicrystalline solar wafers used in solar panels, has said it plans to reach polysilicon production capacity of 6,000 metric tons by the end of 2008 and 15,000 tons by the end of 2009.

Tight supplies of polysilicon have crimped expansion in the fast-growing solar market, and many companies have moved to develop their own supplies of the key solar cell component.

(Reporting by Matt Daily and Lewis Krauskopf)

((Editing by Gerald E. McCormick; Reuters Messaging: matt.daily.reuters.com@reuters.net; E-mail: matt.daily@reuters.com; +1 646 223 6121)) Keywords: FLUOR LDKSOLAR/

(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nN07193502


More from Reuters

Photo

Employers see uptick in hiring in 2010

NEW YORK (Reuters) - U.S. employers expect to hire more new workers in 2010 than they did in 2009, a sign the U.S. recession may be easing its grip, research showed on Tuesday.

» More Top News
An employee swipes a customer's credit card through the card reader at a restaurant in Tokyo February 19, 2005.REUTERS/Issei Kato

Taking a swipe at credit cards

New legislation meant to protect consumers could be a "game changer" for the industry -- and not in a good way.  Full Article 

Economy
A young Kamchatka brown bear plays in its enclosure at the 'Tierpark Hagenbeck' zoo in Hamburg September 20, 2007. REUTERS/Christian Charisius

The return of the Russian bear

Jason Bush

As Russia's memories of crippling economic times fade, are reforms disappearing along with them?  Commentary 

Breakingviews