Technip awarded contract for a substantial elastomer project in Saudi Arabia

PARIS--(BUSINESS WIRE)--Regulatory News:

“We are glad to work on the implementation of this world-class facility, based on a state-of-art technology, in line with Saudi Arabia’s strategic objectives. This contract reinforces Technip’s leading position in the petrochemical business and in Saudi Arabia, where we have been present for more than 30 years.”

Technip (Paris:TEC) (ISIN:FR0000131708) was awarded by the petrochemical company Al-Jubail Petrochemical Company (KEMYA)⁽¹⁾ - a joint venture between SABIC and Exxon Chemical Arabia, an affiliate of ExxonMobil Chemical Company - a contract for the engineering, procurement and construction of an Halobutyl⁽²⁾ facility, located in Al-Jubail, Saudi Arabia.

This project is part of the Saudi Elastomers Program undertaken by KEMYA to set up a world-scale specialty elastomers facility to serve local markets, the Middle East and Asia.

This new facility will produce 110,000 tons per year of rubber using ExxonMobil licensed technology.

Technip’s operating center in Abu Dhabi, United Arab Emirates, will execute the contract.

Arturo Grimaldi, Senior Vice President of Technip Middle East Region stated: "We are glad to work on the implementation of this world-class facility, based on a state-of-art technology, in line with Saudi Arabia’s strategic objectives. This contract reinforces Technip’s leading position in the petrochemical business and in Saudi Arabia, where we have been present for more than 30 years."

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⁽¹⁾ A 50-50 joint venture between Saudi Basic Industries Corporation (SABIC) and Exxon Chemical Arabia, an affiliate of ExxonMobil Chemical.

⁽²⁾ Halobutyl: a high-quality synthetic rubber polymer.

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