THE WOODLANDS, Texas, Dec. 21, 2015 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract valued in excess of $365 million by Lotte Chemical Louisiana, LLC to provide construction services for a monoethylene glycol (MEG) facility in Lake Charles, Louisiana. The MEG facility will be located adjacent to the ethane cracker, as announced by a joint venture between Axiall Corporation and Lotte Chemical Corporation.
"This project is the second of two important petrochemical initiatives Lotte Chemical is developing in the region, and CB&I is pleased to have been selected for both projects," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "This award is a testament to their confidence in our experience and ability to safely execute the project."
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