Technip Awarded Important Contract by JBF Petrochemicals Ltd. for a World-scale Petrochemical Plant in India Business Wire PARIS -- January 24, 2013 Regulatory News: Technip (Paris:TEC) was awarded by JBF Petrochemicals, a wholly–owned subsidiary of JBF Industries Ltd, an important contract^(1) for a 1.25 million tons per year latest-generation purified terephthalic acid (PTA) unit, to be located in the Special Economic Zone in Mangalore, India. PTA is the primary feedstock for polyesters used in textiles and packaging. The contract covers the basic engineering, front-end engineering design, detailed engineering and procurement services for the ISBL (Inside Battery Limit) and the OSBL (Outside Battery Limit) of the unit. The scope of work also includes supply of materials and construction management services for the ISBL. The plant will feature BP’s leading-edge proprietary PTA technology. Technip’s operating centers in Rome, Italy and in Chennai, Mumbai and Delhi, India will execute the contract, which is scheduled to be completed in the first semester of 2015. Marco Villa, Senior Vice President of Technip Region B^(2), commented: “We are very proud to have been selected for this world-scale PTA project. It will bring together the competencies of our operating centers in India and Italy. This contract also reinforces our strong long-lasting collaboration with BP for PTA. We believe that the PTA market growth in Asia will open up further opportunities and we hope to develop a long-term relationship with JBF to support their future developments.” B.C. Arya, Chairman, JBF Industries Ltd., commented: “With the commissioning of this plant, it will be a major step for JBF towards backward integration. JBF is proud to be associated with BP and look forward to utilizing Technip’s competency in setting up this world scale project.” ____ ^(1) For Technip, an “important” onshore contract is ranging from €100 to €250 million. ^(2) Technip Region B is composed of Italy, Greece, Eastern Europe/Russia/CIS and South America. ° ° ° Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 32,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges. Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY). Contact: Public Relations Christophe Bélorgeot, +33 (0) 1 47 78 39 92 Floriane Lassalle-Massip, +33 (0) 1 47 78 32 79 email@example.com or Investor and Analyst Relations Kimberly Stewart, +33 (0) 1 47 7866 74 firstname.lastname@example.org or Chuan Wang, +33 (0) 1 47 7836 27 email@example.com or Website http://www.technip.com
Technip Awarded Important Contract by JBF Petrochemicals Ltd. for a World-scale Petrochemical Plant in India
Press spacebar to pause and continue. Press esc to stop.