CB&I – CBI – Awarded FEED Contract for NKNK Ethylene Plant in Russia
CB&I (NYSE: CBI) announced that it has been awarded a contract valued in excess of US$40 million by Nizhnekamskneftekhim OAO (NKNK) to provide front end engineering and design (FEED) services for a new ethylene plant. The work is scheduled for completion in 2013.
“We are pleased to be selected for this significant project following our successful completion of the feasibility study last year and the recent award of the technology license. We appreciate the trust and confidence shown by NKNK and look forward to continuing our relationship with them on the next phase of the project,” said Philip K. Asherman, CB&I’s President and CEO.
CB&I’s project scope includes FEED for a 1.0 million tonne per annum ethylene plant, a related butadiene extraction unit and a pyrotol unit, including offsites and utilities.
About Nizhnekamskneftekhim
Nizhnekamskneftekhim is the largest independent producer of synthetic rubber and polymers in the Russian Federation, and part of TAIF group of companies. The company produces over 140 petrochemical products since 1967 and exports approximately 50% of their production to 52 countries in Europe, America and Asia.
About CB&I – CBI
CB&I (NYSE: CBI) engineers and constructs some of the world’s largest energy infrastructure projects. With premier process technology from its Lummus Technology business, proven EPC expertise, and unrivaled storage tank experience, CB&I executes projects from concept to completion. Safely. Reliably. Globally.
CB&I (CBI) is one of the world’s leading engineering, procurement and construction companies and a major process technology licensor. They provide a comprehensive range of solutions to customers in the energy and natural resource industries. Drawing upon the expertise of approximately 18,000 employees worldwide, CBI offers a full scope of services, from conceptual design and technology licensing, through engineering, procurement, fabrication and construction, to final commissioning and beyond – with a portfolio of aftermarket services.
With engineering offices and projects located around the world, CB&I has the global experience and local expertise to safely deliver superior results even in the most challenging environments. Their comprehensive portfolio of projects across the industries they serve and their concept-to-completion range of capabilities position them to meet the needs of their clients year after year.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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