THE WOODLANDS, Texas, Dec. 21, 2015 /PRNewswire/ -- CB&I (NYSE:CBI) today announced a joint venture between CB&I and CTCI Corporation has signed a contract valued at approximately $2.8 billion with Oman Oil Refineries and Petroleum Industries Company (Orpic) to provide engineering, procurement and construction for the steam cracker package for the Liwa Plastics Industrial Complex Project in Sohar, Oman.
The scope of work includes EPC for a grassroots 880-ktpa ethylene plant, pygas unit and MTBE unit, as well as all the related off-sites and utilities. CB&I's scope of work also includes the construction of cryogenic and atmospheric storage tanks and pipe spool fabrication. As previously announced, the cracker will employ CB&I's latest, proven ethylene technology, including highly selective SRT® cracking heaters, and its innovative recovery section design, featuring low-pressure separation and mixed refrigeration.
"We look forward to continuing our strong relationship with Orpic and appreciate their confidence in our proven expertise and integrated offering, which includes technology, proprietary equipment, pipe fabrication and storage, as well as engineering, procurement and construction," said Philip K. Asherman, CB&I's President and Chief Executive Officer.
About CB&I
CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in the world. With 125 years of experience and the expertise of approximately 54,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.cbi.com.
About CTCI
CTCI Corporation (9933, TW) founded in 1979 with headquarters in Taipei, is the largest engineering, procurement and construction firm in Taiwan. Through years of hands-on experience and outstanding services, also underpinned by a preeminent workforce, stable financial status and sound managerial systems, CTCI has earned international prestige and goodwill. As a leading EPC firm in Taiwan, CTCI is distinguished for its great competence in delivering comprehensive services to meet customers' requirements. The service portfolio of CTCI includes engineering design, procurement, fabrication, construction, supervision, project management, and test and commissioning. For more information, visit CTCI.com.tw.
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This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2014, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.
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SOURCE CB&I
