logo
Share SHARE
FONT-SIZE Plus   Neg

CB&I Announces Petrochemicals Expansion Project In US - Quick Facts

CB&I (CBI: Quote) said it secured a contract worth about $300 million from Williams Olefins, LLC for a petrochemicals expansion project in Geismar, Louisiana.

According to the company, the scope of the award includes the license and basic engineering for the ethylene technology, the supply of the cracking furnaces, and the detailed engineering, procurement, and construction of the expansion project. Plant capacity is expected to be increased from 1.35 to 1.95 billion pounds per year.

Philip Asherman, president and CEO, said, "We are very pleased to be selected for this important U.S. ethylene project. The petrochemicals market is re-emerging in the U.S. due to the abundance of lower cost ethane feedstock, directly attributable to increased shale gas production. This award reflects the industry's confidence in CB&I's ability to provide both proven technology and EPC services to the petrochemicals market."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. said Tuesday after the markets closed that its first quarter profit rose 38% from last year, driven by all time record revenue from iPhone and Mac sales as well as record performance of its App Store. The company's quarterly earnings per share also breezed past Wall Street expectations as did its quarterly sales. We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015. Diversified electronics maker TE Connectivity Ltd. is nearing a deal to sell its network solutions business unit to CommScope Holding Co., Inc. (COMM) in a deal valued at about $3 billion, according a Wall Street Journal report on Monday. A deal could be announced as early as this week. There has...
comments powered by Disqus
Follow RTT