Fluor Corp., the largest publicly traded U.S. engineering firm, won a contract valued at $420 million to help design and build a solar panel manufacturing complex in Singapore for Renewable Energy Corp.
The plant will produce wafers, cells and modules for use in generating solar energy, Irving, Texas-based Fluor said today in a statement. Fluor's work includes utilities, infrastructure, facilities and roadways.
Production at the facility, located 30 minutes outside Singapore City Center, is scheduled to begin in early 2010. Fluor recorded the full contract amount during the third quarter. The company is also providing engineering and construction services for Hovik, Norway-based Renewable Energy's polysilicon plant in Moses Lake, Washington.
Fluor fell $7.94, or 18 percent, to $35.24 at 4 p.m. in New York Stock Exchange composite trading. The Standard and Poor's 500 Index fell 9 percent. Fluor has lost 52 percent this year.
