05:32 PM EST, 03/07/2024 (MT Newswires) -- Fluor (FLR) said late Thursday the US Department of Energy has selected its joint venture to execute the Hanford integrated tank disposition contract.

The company said the new contract has an estimated ceiling of $45 billion over a 10-year ordering period for environmental management operations at the Hanford site in Washington state.

Fluor said it will recognize its share of earnings using the equity method of accounting.

The joint venture is led by a subsidiary of BWX Technologies ( BWXT ), together with Fluor and Amentum, the firm said.

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