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FLUOR, RAYTHEON TEAM FOR $2.2 BILLION THAILAND REFINERY PROJECT

 IRVINE, Calif., March 2 /PRNewswire/ -- Fluor Corp. (NYSE: FLR) announced today that a joint venture between Fluor Daniel, its principal engineering and construction subsidiary, and The Badger Co., a subsidiary of Raytheon Co. (NYSE: RTN), has singed a letter of intent with Rayong Refinery Co. to build a new oil refinery in Rayong province, Thailand. The project has an estimated total cost of $2.2 billion and is scheduled for completion in 1996. The value to Fluor Daniel and Badger was not disclosed.
 Fluor Daniel and Badger will perform engineering, design, procurement and construction activities for the refinery and associated facilities, to be located in the Map Ta Phut Industrial Complex in Rayong province. Shell Internationale Petroleum Maatschappij B.V. is the technical advisor to Rayong Refinery Co., which is a joint venture between the Petroleum Authority of Thailand and Shell.
 The new refinery will process 145,000 barrels of crude oil per day with a high degree of upgrading capacity. Extensive facilities will be provided to protect the environment, including sulfur removal and wastewater treatment. The refinery will also include storage facilities, loading and unloading stations, and jetty facilities.
 Fluor Daniel Inc., the principal subsidiary of Fluor Corp., is an international engineering, construction maintenance, and technical services company with more than 50 offices worldwide.
 Badger, which is part of Raytheon's Energy and Environmental business segment, is an international engineering and construction company providing services and technology to the petroleum refining, chemical, polymer, food, pharmaceutical, and environmental process industries.
 Raytheon is a $9 billion diversified, international technology- based company.
 -0- 3/2/93
 /EDITOR'S NOTE: Raytheon has released information concerning this same subject today./
 /CONTACT: Deborah Land, media relations, 714-975-3971, or Lila Churney, investor relations, 714-975-3909, both of Fluor/
 (FLR RTN)


CO: Fluor Corp.; Fluor Daniel; Raytheon Co.; The Badger Co.; Rayong
 Refinery Co. ST: California IN: OIL CST SU: JVN


JB-LS -- LA032 -- 2118 03/02/93 16:16 EST
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Publication:PR Newswire
Date:Mar 2, 1993
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