CB&I Awarded FEED Contract for NKNK Ethylene Plant in Russia

Published on Wednesday, 20 June 2012 07:06 Written by TradersHuddle Staff

THE WOODLANDS, Texas-( Business Wire )-

CB&I (NYSE: CBI) announced today that it has been awarded a contract valued in excess of US$40 million by Nizhnekamskneftekhim OAO (NKNK) to provide front end engineering and design (FEED) services for a new ethylene plant. The work is scheduled for completion in 2013.

"We are pleased to be selected for this significant project following our successful completion of the feasibility study last year and the recent award of the technology license. We appreciate the trust and confidence shown by NKNK and look forward to continuing our relationship with them on the next phase of the project," said Philip K. Asherman, CB&I's President and CEO.

CB&I’s project scope includes FEED for a 1.0 million tonne per annum ethylene plant, a related butadiene extraction unit and a pyrotol unit, including offsites and utilities.

About Nizhnekamskneftekhim

Nizhnekamskneftekhim is the largest independent producer of synthetic rubber and polymers in the Russian Federation, and part of TAIF group of companies. The company produces over 140 petrochemical products since 1967 and exports approximately 50% of their production to 52 countries in Europe, America and Asia. For more information, visit www.nknh.ru.

About CB&I

CB&I (NYSE: CBI) engineers and constructs some of the world’s largest energy infrastructure projects. With premier process technology from its Lummus Technology business, proven EPC expertise, and unrivaled storage tank experience, CB&I executes projects from concept to completion. Safely. Reliably. Globally. For more information, visit www.CBI.com.

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CB&IChristi Thoms, +1 832 513 1200www.CBI.com