AG&P, Texas firm set up infra venture
$100M entity to tackle big-ticket int’l projects
By Paolo G. MontecilloPhilippine Daily Inquirer
Local industrial firm AG&P and Texas-based construction company Fluor Corp. have joined forces to create a new entity that will take on big-ticket infrastructure projects around the world.
Both firms announced Thursday the formation of a joint-venture company, to be known as AG&P Fluor Joint Venture Co., which would provide a full range of integrated engineering, fabrication, module assembly and construction services to Fluor’s clients.
Both partners will invest at least $100 million combined for the new venture, which is expected to create 2,000 new jobs for skilled workers in the years ahead.
“Consistent with our growth strategy, this new venture with AG&P enables Fluor to provide our clients with an integrated construction model that is both cost-effective and will help reduce construction schedules thereby increasing our clients’ ability to bring their project to completion faster,” said Peter Oosterveer, president of Fluor’s Energy & Chemicals Group.
“Fluor and AG&P have a longstanding business relationship and history of working together in the Philippines over the past 25 years. We look forward to strengthening this relationship to improve our clients’ projects and meet their business needs,” he added.
AG&P specializes in the fabrication of modular infrastructure projects for clients in the oil and gas, power, chemical and mining industries.
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Tags: AGP , Business , Fluor , joint venture , Philippines
