logo
Share SHARE
FONT-SIZE Plus   Neg

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

CB&I (CBI) 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

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
RELATED NEWS
Trade CBI now with 
Follow RTT