By Sam Boughedda
Investing.com — Fluor (NYSE:FLR) stock jumped 8.2% on Thursday after the U.S. Department of Energy selected its joint venture with BWX Technologies Inc (NYSE:BWXT) and Amentum to manage a nuclear waste contract on the Savannah River.
The joint venture is called Savannah River Mission Completion. The contract is valued at up to $21 billion over 10-years.
The work covers liquid waste stabilization and disposal and the management and stability of radioactive materials, among other things.
The SRMC team working on the contract also comprises two pre-selected small businesses—DBD and woman-owned Wesworks—that produce specialized simulation and modeling and project control expertise.
"Fluor has been a part of the Savannah River Site community for 13 years and we're looking forward to continuing these ongoing efforts with this new work in the liquid waste market," said Tom D'Agostino, president of Fluor's Mission Solutions business.
Fluor shares were trading around $19.65 at midday.