PARIS--(BUSINESS WIRE)-- Regulatory News:
Braskem Idesa S.A.P.I. awarded to a joint venture formed by Odebrecht (40%), Technip (40%) (Paris:TEC) (ISIN:FR0000131708) and ICA Fluor (20%) a contract worth more than US$ 2.7 billion (around €2.1 billion) for the engineering, procurement and construction (EPC) of a petrochemical complex to be built in the Coatzacoalcos/Nanchital region, in the Mexican state of Veracruz.
The petrochemical complex will include the following facilities:
- An ethane-based ethylene cracker, producing 1 million tons per year, using Technip proprietary technology.
- Two high density polyethylene plants using INEOS Innovene™ technology
- A low density polyethylene plant using BASEL Lupotech technology.
- Storage, waste treatment and utility facilities, including a 150 MW combined cycle power and steam co-generation plant.
- A multimodal logistics platform for shipment of 1 million tons per year of polyethylene via bulk train, bulk truck or bagged.
- Administrative, maintenance, control room and ancillary buildings.
The JV project team will execute the contract in several operating centers mainly located in Nanchital and Mexico City (Mexico), Rome (Italy), Lyon (France) and Rotterdam (The Netherlands). The project is scheduled for completion, with the plant ready for start up, in June 2015.
This award follows the successful execution of the front-end engineering design of the ethylene, HDPE and utilities contracts awarded to Technip in the first quarter of 2011 and the front end engineering of the offsites facilities executed by Odebrecht and ICA Fluor during 2011.
Thierry Pilenko, Technip’s Chairman and Chief Executing Officer declared: “Technip is delighted to have been awarded this large contract with long-term and tier-one partners such as Odebrecht and ICA Fluor. The Ethylene XXI cracker will be the most modern and efficient in operation in the Americas and will use Technip’s state-of-the-art technology. We are leveraging our relationship with Odebrecht in Brazil and our technology portfolio, which has been recently expanded with the acquisition of Stone & Webster process technologies and associated oil and gas engineering capabilities, to accompany Braskem in its international development. We are really proud to have earned the trust of Braskem Idesa as Technip’s know-how and expertise will bring important benefits to this major projet.”
About Braskem Idesa
Created in 2010, Braskem Idesa S.A.P.I. is a joint venture between Braskem SA (Brazil), the largest petrochemical company in the Americas and Grupo Idesa, a leading Mexican petrochemical company. Together they are developing the Ethylene XXI project, which focuses on the construction and operation of a petrochemical complex to produce polyethylene in the state of Veracruz, Mexico. The project requires a fixed investment of 3.3 billion dollars and will start operating in 2015.
Odebrecht is a global organization founded in Brazil in 1944 as a construction company. It grew, diversified its business areas and nowadays has been operating in heavy construction, infrastructure, environmental engineering, real estate development, energy, oil and gas, chemical and petrochemical sectors, defense and technology, naval construction, bioenergy, transportation and logistics, stakes and investments. With operations in 22 countries in four continents, Odebrecht has products sold in 56 countries, and employees of over 50 different nationalities.
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 30,000 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: TKPPK).
About ICA Fluor
ICA Fluor is a joint venture of Fluor Corporation and ICA, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, power, mining, and telecommunication industries in Mexico, Central America and the Caribbean.
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