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Report: Some E&C Costs Likely to Fall 15% by 2010

12:32 PM MDT | April 3, 2009 | ESTHER D’AMICO

Engineering and construction (E&C) equipment and materials costs remain volatile but are expected to start falling as early as the fourth quarter or early 2010, says Jim Scotti, senior v.p. and chief procurement officer at Fluor. The drop in pricing will likely be about 15% from 2008 levels, says Scotti, citing Fluor’s recently published annual materials outlook study. The company did not provide estimates on total installed E&C project costs. Costs for E&C commodities, including scrap steel, have already dropped by more than 30%, but this is...

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