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Howtoforge posted a guide about installing Nginx on Fedora 17

Nginx (pronounced "engine x") is a free, open-source, high-performance HTTP server. Nginx is known for its stability, rich feature set, simple configuration, and low resource consumption. This tutorial shows how you can install Nginx on a Fedora 17 server with PHP5 support (through PHP-FPM) and MySQL support.
  Installing Nginx With PHP5 (And PHP-FPM) And MySQL Support On Fedora 17