April | 2020 | | Petropipe

McDermott Awarded Multiple EPFC Contracts for Storage Tanks in Saudi Arabia

McDermott International, Inc. announced that CB&I Storage Solutions has been awarded one large and two sizeable contracts for the engineering, procurement, fabrication and construction (EPFC) of 38 tanks and 13 spheres in multiple locations across Saudi Arabia.

“CB&I Storage Solutions has had a significant presence and strong track record in Saudi Arabia since the 1930s,” said Cesar Canals, Senior Vice President of CB&I Storage Solutions. “This experience, and our strong partnerships with international contractors and major oil & gas operators, has established us as one of the most reliable providers of storage and EPFC solutions in the country.”

The awards will be reflected in McDermott’s first quarter 2020 backlog.

*McDermott defines a sizeable contract as between USD $1 million and $50 million and a large contract as between USD $50 million and $250 million.

CB&I Storage Solutions is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 59,000 structures completed throughout its 130-year history, CB&I Storage Solutions has the global expertise and strategically-located operations to provide its customers with world-class storage solutions for even the most complex energy infrastructure projects.

Source: McDermott Press Release

Wood secures $100m onshore wind EPC contracts in the United States

Wood, the global engineering and consulting company, has secured a number of engineering, procurement and construction (EPC) onshore wind contracts in the United States worth a combined $100m.

The largest of the recently awarded contracts is the next phase in American Electric Power (AEP) Renewables’ wind farm development in south-central Kansas, where Wood will provide the entire EPC services for the milestone project. The Flat Ridge 3 wind farm is an extension of the success of Flat Ridge 1 and 2, which combined represent some of the largest wind farms in the US.

The company has also secured an award from Black Hills Energy to support its Corriedale Wind Energy Project in Cheyenne, Wyoming, which marks Wood’s first renewables venture in the mountain states. The utility-scale wind facility will provide the energy resources for Black Hills Energy’s Renewable Ready program, a voluntary subscription program for its commercial and industrial customers and government agencies in South Dakota and Wyoming.

In addition, Wood will deliver four new wind farms in Morrow and Umatilla Counties in Oregon for Orchard Windfarms. The company will be responsible for offloading and constructing the wind turbines, installing the associated collector system and civil and foundation work.

When combined, the projects will see almost 100 turbines installed with a total generating power of 230 megawatts. The projects will require the support of more than 400 people and will take up to 12 months to deliver.

Stephanie Cox, CEO of Wood’s Asset Solutions Americas business, said: “From the Pacific northwest state of Oregon and the western state of Wyoming, to the midwestern states of South Dakota and Kansas, these awards show the positive momentum Wood is generating across the United States in the renewables market.

“We are committed to playing a forward role in achieving a balanced and secure energy supply in the US. As the renewables market continues to grow through rising demand, further investment and shifts in technology, our ambitious, versatile and established EPC offering positions Wood as a partner of choice for existing and new developments.”

Source: Wood

Saline Water Conversion Corporation (SWCC) awarded ACCIONA and its partner RTCC to build $500m desalination plant in Saudi Arabia

The Saudi publicly-owned company Saline Water Conversion Corporation (SWCC) has awarded ACCIONA and its partner RTCC the construction of the Al Khobar 2 desalination plant at Khobar, on the east coast of Saudi Arabia around 400 kilometres from Riyadh. It is a turnkey contract valued at around $500 million (€460 million).

It will be one of the largest in the country, with a capacity of 600,000 m³ per day to serve a population of three million

The facility will be equipped with reverse osmosis technology and a daily capacity of more than 600,000 m³, making it one of the biggest in the country and the largest RO plant under EPC scheme awarded in a single shot in KSA. It will provide a service to three million people in the area. ACCIONA thus consolidates its presence in the water treatment sector in Saudi Arabia, a country in which it currently has three projects under way.

Last year, a €750-million contract was awarded for the financing, design, construction, operation and maintenance (for 25 years) of the Shuqaiq3 desalination plant. Located in the south-west of the country on the Red Sea coast, it is expected to be completed sometime in 2021 and will have a treatment capacity of 450,000 m³ per day to provide a service to a population equivalent of two million. It will also be equipped with a photovoltaic plant to reduce internal energy consumption.

In July 2018, a contract was also awarded for around €200 million to build and commission the Al Khobar 1 desalination plant (capacity: 210,000 m³/day). It is located close to the Al Khobar 2 plant and serves a population of 1,000,000.

The company has also designed and built the Al Jubail RO4 seawater desalination plant in the east of the country for the utility Marafiq. With a capacity of 100,000 m³ per day, it serves both the city and the nearby industrial complex.

Source: ACCIONA News

Keppel-led consortium secures S$1.5 billion EPC contract to develop Singapore’s Tuas Nexus IWMF

A Keppel-led consortium has received the Letter of Acceptance from the National Environment Agency (NEA) for an Engineering, Procurement and Construction (EPC) contract worth approximately S$1.5 billion, for the development of a Waste-To-Energy (WTE) facility and a Materials Recovery Facility (MRF) for Singapore’s new Tuas Nexus IWMF.

The consortium comprising Keppel Seghers Engineering Singapore Pte Ltd (Keppel Seghers), the environmental engineering arm of Keppel Infrastructure, China Harbour (Singapore) Engineering Company Pte Ltd (China Harbour) and ST Engineering Marine Ltd, the Marine arm of Singapore Technologies Engineering Ltd (ST Engineering), will design and build a 2,900 tonnes per day (tpd) WTE facility and a 250 tpd MRF as part of the IWMF Phase 1 development. To be co-located with PUB’s Tuas Water Reclamation Plant (Tuas WRP) at the Tuas View Basin site, the IWMF WTE facility and the MRF will be amongst the largest of such facilities in Singapore when they are completed in 2024.

Keppel Seghers, China Harbour and ST Engineering’s Marine arm’s share of the works under the EPC contract will be approximately 48%, 31%, 21% respectively.

Based on Keppel Seghers’ proven and proprietary WTE technology, the WTE facility will generate sufficient electricity to sustain the operations of Tuas Nexus IWMF Phase 1 and the initial phase of Tuas WRP, with excess electricity for export to the grid.

The state-of-the-art WTE facility will feature Keppel Seghers’ air-cooled grate, boiler design, and advanced combustion system. In addition, the facility’s wet flue gas cleaning system will ensure the facility’s emissions comply with Singapore’s regulatory requirements as well as standards. As the consortium lead, Keppel Seghers will also be responsible for the overall project management.

China Harbour will undertake the civil, structural and landscaping scope of the project, while ST Engineering’s Marine arm will be responsible for the construction of the MRF, power-island and the balance of plant.

With advanced technologies to sort metals, paper, cardboard and plastics automatically, the MRF will improve sorting efficiency, contributing towards the overall recycling rate in Singapore.

The consortium will work closely with NEA, as well as their consultants – a multi-disciplinary consultancy team led by Black & Veatch and AECOM, in association with Ramboll, for the design, construction and commissioning of this flagship project.

Dr Ong Tiong Guan, CEO of Keppel Infrastructure, said, “As a developer and operator of two of Singapore’s current four WTE plants, Keppel, together with its partners, is honoured to contribute further to Singapore’s sustainable urbanisation through this flagship project. This project, which will contribute significantly towards Singapore’s long-term waste management plans, is a testament to Keppel’s leadership in world class WTE technology and will reinforce our position globally as a competitive and reliable waste management solution provider.”

Singapore’s IWMF will mark the third integrated waste management project that Keppel Seghers has undertaken. Keppel Seghers has designed, built and is currently operating Qatar’s Domestic Solid Waste Management Centre, an integrated waste management facility that is treating waste for the whole country. In addition, Keppel Seghers Hong Kong Limited is also currently building Hong Kong’s (HK) first Integrated Waste Management Facility off the coast of Shek Kwu Chau, with Zhen Hua Engineering Co. Ltd., which is also a company under the China Harbour Engineering Company in Beijing. HK’s IWMF is its first integrated waste management facility for municipal solid waste and is contracted to treat 3,000 tpd of mixed municipal waste.

Mr Tang Qiaoliang, President of China Harbour Engineering Company Ltd. (CHEC), said, “CHEC is honoured to participate, with its partners, Keppel Seghers and ST Engineering, in such a flagship environmental sustainability project and will fully utilise its expertise and strengths in the design and construction of civil, structural and landscaping, to complement its partners to deliver a world-class waste management solution.

“With the construction of HK’s IWMF, which is currently the first and largest WTE project in HK, progressing well, Singapore’s IWMF will be the second waste management facility to be built by Keppel Seghers and CHEC worldwide. In addition, CHEC also undertook construction of the Tuas Sewage Treatment Plant in Singapore in 2019. The strategic fit for Keppel Seghers and CHEC will create more opportunities for cooperation in the future.”

Mr Ng Sing Chan, President, Marine of ST Engineering said, “ST Engineering values industry collaboration, especially one such as this that helps facilitate Singapore’s drive towards environmental sustainability. We look forward to fulfilling our part in this consortium with our deep domain expertise in environmental engineering, and core competencies in managing large-scale engineering and critical infrastructure projects.”

The abovementioned development is not expected to have a material impact on the respective net tangible assets or earnings per share of Keppel Corporation Limited and ST Engineering for the current financial year.

Source: Keppel Corporation

L&T’s construction arm wins contract for Eastern Dedicated Freight Corridor project

Railways Strategic Business Unit of L&T Construction’s Transportation Infrastructure IC in consortium with M/s Kyosan Electric Manufacturing Co. Ltd., Japan has won a significant order in the form of 3 packages from the Dedicated Freight Corridor Corporation of India Limited (DFCCIL). The Design and Build orders involve 2×25 KV Overhead Electrification, Signalling & Telecommunication and Associated works in the Dadri – Khurja and Sahnewal – Khurja sections of the Eastern Dedicated Freight Corridor (EDFC). The works are spread across 442 Route Kms and 638 Track Kms.

L&T Construction is already executing the Electrification and Signalling System works contracts for the Mughalsarai to New Sonnagar section and Electrification works of the Mughalsarai – Bhaupur Section of the EDFC.

With this win, L&T will be electrifying 1000 out of 1346 Kms of the EDFC where orders have been finalized, and the entire 1465 Kms of the Western Dedicated Freight Corridor from Dadri to JNPT. DFCCIL is a special purpose vehicle of the Indian Railways, mandated to build dedicated freight corridors.

Background: Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Source: Larsen & Toubro Press Release

Subsea 7 awarded contract offshore Netherlands

Subsea 7 announced the award of a substantial contract by Vattenfall for the Hollandse Kust Zuid (HKZ) 1-4 offshore wind farm project, located between 18-36km off the Dutch coast in the North Sea.

Subsea 7 defines a substantial contract as being between USD 150 million and USD 300 million

The contracted work scope includes the transport and installation of approximately 140 wind turbine monopile foundations and 315km of 66kV inner array grid cables in water depths between 18 and 27 metres. Offshore installation is scheduled for execution in 2021 and 2022 using Seaway 7’s heavy lift, cable lay and support vessels. The contract is subject to a final investment decision by Vattenfall and Subsea 7 will include the contract in backlog once that decision has been made.

The HKZ 1-4 offshore wind farms are being developed by Vattenfall as the first subsidy-free wind farms in the Netherlands, and when completed, will have an installed capacity of approximately 1.5 GW, which will meet the electricity needs of approximately 2-3 million Dutch households.

Steph McNeill, EVP Subsea 7 Renewables, said: “We look forward to working collaboratively with Vattenfall as a trusted partner to install the foundations and inner array cables for the Hollandse Kust Zuid 1-4 wind farms and help to deliver the first subsidy-free offshore wind project in the Netherlands.”

Catrin Jung, Head of Offshore Wind, Vattenfall, said: “We look forward to working with Subsea7 on this exciting project. The Netherlands is an important market for us and we are very happy to contribute to making the Dutch energy system more sustainable and support our customers, large and small, on their way to fossil free living.”

Source: https://www.subsea7.com/en/media/company-news/2020/subsea-7-awarded-contract-offshore-netherlands.html

L&T’s construction arm wins ‘significant’ contracts for Buildings & Factories Business

Engineering and construction giant Larsen & Toubro (L&T) and its construction arm has won ‘significant’ contracts for its Buildings & Factories Business. Though the company did not specify the value of the contracts, a significant contract as per its specification ranges between Rs 1,000 crore to Rs 2,500 crore.

“The Buildings & Factories Business of L&T Construction has secured orders from prestigious clients in India. The business has won an order t to design and construct an integrated resort complex project at Goa,” the company said in a statement.

The business has also secured an order to construct a Technology Park in Trivandrum over a total built up area of 2.3 million square feet.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries.

Source: https://bit.ly/2RZcaeh

TechnipFMC Awarded EPCI Contract for Woodside’s Lambert Deep and Greater Western Flank Fields in Australia

TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction and Installation contract by Woodside Energy Limited for the development of the Lambert Deep and Phase 3 of the Greater Western Flank fields, located offshore Northwestern Australia.

TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals for connection to the Angel platform.

This is the second contract under the recently announced five-year iEPCI™ Frame Agreement between TechnipFMC and Woodside.

Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are delighted to have been awarded another iEPCI™ project through our frame agreement with Woodside. This is Woodside’s second consecutive award adopting our Subsea 2.0 platform, confirming our common ambition to transform subsea economics through integration, standardization and configurability.”

The Angel platform is located about 120 kilometers north-west of Karratha and is connected to the North Rankin Complex (NRC) via a 50 kilometers subsea pipeline.

For TechnipFMC, a “significant” contract is between $75 million and $250 million

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

Source: https://bit.ly/3eHCCTI

Malaysia’s Serba Dinamik wins $1.8bn EPC deal from Block 7 in Abu Dhabi

Bursa Malaysia-listed Serba Dinamik Holdings has secured an engineering, procurement, and construction (EPC) services contract worth $1.8bn (AED6.6bn) from US-based Block 7 Investments at the UAE capital, Abu Dhabi.

The EPC contract has been awarded to Serba Dinamik International Ltd (SDIL), a wholly-owned subsidiary of Serba Dinamik Holdings.

In a stock market filing Serba Dinamik said that the project covers three areas of interest including, the Innovation Hub, which includes the development of offices, restaurants, exhibition centres, and IT centres; Academic Campus; and accommodation which includes apartments and hotels, spanning a total built-up area of 455,000m2.

The scope of work includes, but is not limited to, designing, engineering, procuring, supervising, managing, supplying, transporting, constructing, commissioning, and the remedying of any defects in connection with the project works.

The company said that work on the project will commence on 14 May 2020.

It added in the missive: “The project forms part of Block 7’s initiatives to create a global incubator for the advancement of innovators for the technology, property, financial as well as energy sectors, to be positioned as a new landmark for Abu Dhabi.”

Under the terms of the agreement, the company said that it would be “liable for damages in the event of its failure to comply with the Time for Completion with a maximum amount of 10% of the Contract Price”.

Serba Dinamik will complete the project works within 1,460 days from the commencement date, with the contract award expected to contribute positively to the company’s net assets, consolidated earnings, and earnings per share for the financial year ending 31 December 2020.

It is expected to contribute positively to Serba Dinamik’s financials for the financial year ending Dec 31, 2020, it added.

Source: https://bit.ly/2ROeQv5

Saipem awarded Egypt’s first polybutadiene plant, in consortium with Petrojet, for the amount of approx 150 million USD

Saipem, leading a consortium with Egypt-based Petrojet, has been awarded a contract by Egyptian Ethylene & Derivatives Co. (Ethydco) for the first polybutadiene-producing facility in Egypt, with an expected production capacity of 36,000 MT/Y.

Saipem and Petrojet have a long history of partnership in Egypt and will be jointly responsible for detailed engineering design, procurement and supply of equipment and materials, construction, pre-commissioning, commissioning up to successful start-up and performance testing.

Saipem will contribute its key competencies as a leading solutions provider in the petrochemical sector, specifically in the elastomers segment.

The scope of work of the new rubber plant comprises one production train of Low Cis Butadiene Rubber and related facilities. Polybutadiene is a synthetic rubber with a high resistance to wear and is used in the manufacture of tires, which consumes about 70 per cent of all global production.

The overall value of the contract is for approximately 150 million USD.

Maurizio Coratella, Chief Operating Officer of the Saipem Onshore E&C Division, commented: “After successful completion of the fast-track Zohr project, this award confirms Saipem as a partner of choice to support the sustainable development of Egypt”.

Source: https://bit.ly/2VDY5Ei

Subsea 7 awarded contracts by Chevron for subsea installation services in the Gulf of Mexico

Subsea 7 announced the award of contracts by Chevron U.S.A Inc. for subsea installation services related to the Anchor field, located in the Green Canyon area of the Gulf of Mexico. The Anchor field is approximately 140 miles off the coast of Louisiana.

Subsea 7’s scope of work includes project management, engineering, procurement, construction and installation of the SURF components including, but not limited to, the production flowlines, risers, umbilicals, flying leads, jumpers, and associated appurtenances.

Project management and engineering will commence immediately at Subsea 7’s offices in Houston, Texas. Fabrication of the flowlines and risers will take place at Subsea 7’s spool-base in Ingleside, Texas, with offshore operations anticipated to occur in 2022 and 2023.

Source: https://www.subsea7.com/

Oman’s Galfar wins $24.5m Fahud runway revamp project from PDO

Oman’s Muscat Securities Exchange-listed (MSM) Galfar Engineering & Contracting has secured a $24.5m (OMR9.5m) contract for the Fahud Runway Rehabilitation Project from the Sultanate’s state-held Petroleum Development Oman (PDO).

In a stock market filing undersigned by the contractor’s chief executive officer, Hand Erlings, the company said that the contract has been awarded for a period of 11.5 months, which is effective from 7 April 2020, with the contract being awarded on 31 March.

The company added that it expects “reasonable income from this project”.

In March, the company’s chief financial officer, Anantha Subramanian resigned from his post for “health reasons”. Subramanian was appointed to his role at Galfar in January 2018, following the resignation of its then CFO Gerard Hutchinson in September 2017.

The Omani contractor received a “letter of award” for a project covering the construction of cliff road and access road, with the contract being valued at $4.5m (OMR1.7m).

Source: https://bit.ly/2RAbrjD

India-listed L&T Construction wins contracts in Kuwait, Oman and Egypt

India-based Larsen & Tourbo’s power and transmission distribution business, a part of its subsidiary, L&T Construction, has secured ‘major’ contracts for projects in Kuwait, Oman, and Egypt in the Middle East.

A major contract is classified as the one valued between $655.4m to $917.6m.

In Kuwait, the contracting heavyweight has been awarded a contract to upgrade substations and related power facilities in Kuwait National Petroleum Company’s (KNPC) Mina Al Ahmadi oil refinery. L&T Construction will use the latest technology to revamp the network of distribution substations to increase the reliability of power supply and facilitate expansion for the refinery.

Simultaneously, in Oman the contractor has secured an order for a 400 kV grid station that will connect existing grid in the South and North with Petroleum Development Oman (PDO) area. This will serve as an important element in the Sultanate’s major transmission initiative.

Meanwhile, L&T Construction will design, supply, construct and commission a 220 kV gas insulated substation in Egypt. The contractor did not reveal the name of the company that has awarded this contract.

Source:https://bit.ly/3b33pat

Target Engineering Secured $57 million contracts in UAE

Target Engineering Construction Company, a subsidiary of Arabtec Holding, UAE announced in a statement that, it has secured multiple contracts from United Arab Emirates. The total value of the signed contracts is AED 210 million (1 AED = 0.272294 USD).

ADNOC Offshore Contract:

A contract awarded by ADNOC Offshore to carry out the engineering, procurement, construction and commissioning (EPCC) works for the replacement of existing Slug Catchers, static equipment used in the upstream oil production facilities to minimise the slug from oil and gas pipelines. The value of the order is AED 84 million.

The project location is at the Satah Plant on Zirku Island, Abu Dhabi.

The contract works will commence immediately for a duration of 22 months. This award is line with the Group’s strategic priority to diversify its backlog into different sectors, including the industrial sector.

Construction of Sunset Square:

Target Engineering has also been awarded a contract for the construction of Sunset Square, Abu Dhabi.

The value of the order is AED 126 million.

Target’s scope of work includes the construction of a nineteen-storey commercial building.

The total built up area of the project is approximately 27,000 square metres. Project works are expected to commence shortly for a duration of 30 months.

Source: https://bit.ly/3eaGU5K

L&T Hydrocarbon Engineering bags EPCC contract for IOC’s Barauni Refinery, India

Engineering and construction giant Larsen & Toubro have won a ‘large’ contract from the Indian Oil Corporation for conducting capacity expansion of IOC’s Barauni Refinery, in Bihar.

The project won by company arm L&T Hydrocarbon Engineering involves engineering, procurement, construction and commissioning for 9 million tonne per annum (MTPA) Atmospheric & Vacuum Distillation Unit.

Though the company did not specify the exact amount of the contract, as per its specification it ranges between Rs 2,500 crore and Rs 5,000 crore.

The EPCC contract is for setting up a new 9 MTPA Atmospheric & Vacuum Distillation Unit (AVU) and allied facilities (EPCC-1 Package) for Barauni Refinery Capacity Expansion Project at IOCL’s Barauni Refinery, Bihar. The capacity of Barauni Refinery is being augmented from the current installed capacity of 6 MTPA to 9 MTPA,” the company said in a statement.

Awarded through an international competitive bidding on Lump Sum Turn Key (LSTK) basis, the contract demonstrates IOCL’s trust on L&T Hydrocarbon Engineering’s capability to deliver complex process plants to a challenging schedule with excellent safety and quality, the company said.

L&T Hydrocarbon Engineering is already executing a similar EPCC Project of 9 MTPA project for HPCL Visakh Refinery as a part of Visakh Refinery Modernisation Project.

Organized under offshore, onshore, construction services, modular fabrication and engineering services verticals, LTHE delivers ‘design to build’ engineering and construction solutions across the hydrocarbon spectrum.

Source: https://bit.ly/39TSS0e

Saudi Arabia’s Advanced Petrochemical and SK Gas to build $1.8 billion PDH and PP Plant

Saudi Arabia’s Advanced Petrochemical Company has signed an agreement with South Korean company SK Gas for constructing and operating propane dehydrogenation (PDH) and polypropylene (PP) plants.

The project location is in Jubail Industrial City, eastern region of Kingdom of Saudi Arabia. The plant will be built with an investment of $1.8 billion.

The project will have a design capacity of 843,000 metric tons per annum of propylene and 800,000 metric tons per annum of polypropylene

Advanced Global Investment Company (AGIC), a subsidiary of Advanced and SK Gas Petrochemical (SKGP), signed a shareholder agreement to create a joint venture (JV) company called Advanced Polyolefins Company.

About 25% of the project will be financed using equity from shareholders, while the remaining 75% will be financed by the JV from borrowing from lenders.

AGIC will own an 85% equity stake in the newly formed JV company, while the remaining 15% will be owned by SKGP.

In addition, AGIC has signed a license agreement with US-based Lummus Technology for the supply of CATOFIN Technology for a 843KTA PDH plant.

It also executed two licence agreements with an Italian firm called Basell Poliolefine Italia for procuring SPHERIPOL Technology and SPHERIZONE Technology for two PP plants.

AGIC also signed a conditional land allocation letter with Royal Commission for the Project in Jubail.

Construction of the facility is expected to begin during 2021 and Saudi Aramco has agreed to supply propane on a long term basis.

Source: https://bit.ly/34fPjQJ

Tecnimont S.p.A. wins $10M contract for technology-driven engineering services in the petrochemical sector in Korea, Russian Federation and India

Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A. has been granted awards for a total amount of approximately $10 million for technology-driven engineering services and feasibility studies in the petrochemical sector in Korea, Russian Federation, and India. In particular, Tecnimont has signed a contract to develop the FEED (front end engineering design) and subsequent Detailed Engineering for the High Pressure section of a low-density polyethylene (LDPE) plant to be realized in Korea for one of the major energy and chemical companies in Asia Pacific, which is developing a new grassroot petrochemical integrated complex. Thanks to its technological know-how, Maire Tecnimont consolidates its market leadership in the engineering and construction of low-density polyethylene plants worldwide.

Awards comprise also two feasibility studies, one for a new Polypropylene Unit in India by Borealis AG and the other for an additional line of Acrylonitrile in Russian Federation by Lukoil OOO Saratovorgsinetz.

Pierroberto Folgiero, Maire Tecnimont Group CEO, commented: “These awards confirm that our Group is continuing its activities thanks to the current effort of every single colleague, as well as the benefit derived from the early adoption of our Digital Advantage Smart Platform.”

Maire Tecnimont is ensuring business continuity thanks to the utilization of its “Digital Advantage Smart Platform”. The Group launched in 2015 its “Digital Advantage” program that progressively led to the full digitalization of its processes that allows advanced collaboration among its professionals and partners, regardless their physical working location. Maire Tecnimont has been among the first adopters in its industry of the leading ICT technologies enabling full cloud and virtualization of Group infrastructure in order to perform from remote not only design and operation activities – BIM, full 3d modeling and AWP solutions to optimize engineering and construction – but also administration, finance and control, procurement and human resource management.

Source: https://bit.ly/3bHQD1b