(World Oil) – Fluor Corp. has sold its equity stake in the ICA-Fluor Daniel joint venture to longtime partner ICA for $175 million, ending a partnership that has supported oil and gas, power, mining and industrial projects across Mexico for more than three decades.The joint venture, established in 1993, has executed numerous engineering, procurement and construction (EPC) projects in Mexico’s energy and industrial sectors. Fluor said the divestiture aligns with its strategic priorities while allowing ICA to continue growing the business independently.“Since the joint venture was formed in 1993, Fluor and ICA have successfully completed numerous projects in support of Mexico’s oil and gas, power, mining and manufacturing markets,” said Jim Breuer, Fluor’s Chief Executive Officer. “Given our current strategic priorities and in agreement with our partner, we determined that this is the right time to conclude this long-standing JV.”Despite the sale, Fluor said it expects to continue supporting ICA on future projects in Mexico on a project-by-project basis.The company said the expected gain on the transaction, combined with year-to-date operating income from the joint venture, will exceed ICA-Fluor Daniel’s anticipated contribution to Fluor’s 2026 earnings. Additional details and updated financial guidance are expected during Fluor’s second-quarter earnings call on Aug. 7.