Quantcast
 
Read Larry Connors' blogShort Term Trading Strategies


 

Linde Gets US$1.075 Bln Contract From Borouge To Build Ethane Cracker In Abu Dhabi - Update

Thu. July 02, 2009; Posted: 08:49 AM
Stocks RSS
(RTTNews) - Borouge, a joint venture of Abu Dhabi National Oil Co, or ADNOC, and chemical and plastics solutions provider Borealis, Thursday said that it has awarded a contract worth US$1.075 billion to German gases and engineering company Linde Group (LIN | Quote | Chart | News | PowerRating) to build another 1.5 million tonnes per year ethane cracker at its production site in Ruwais, Abu Dhabi, United Arab Emirates.

The company said the ethane cracker would be the third one in Abu Dhabi and one of the largest in the world. After the completion of the new cracker, Borouge will have the world's largest ethane cracker complex, setting a new benchmark for the industry, it said in a statement.

Borouge said that the contract would be executed on a 'lump sum turnkey' basis whereby the construction work will be executed by the Consolidated Contractors Co., or CCC. The new cracker complements Borouge's 600,000 tonnes per year and 1.5 million tonnes per year ethane crackers. The latter is currently under construction as part of the plant's expansion from 600,000 to 2 million tonnes per year of polyolefins by mid-2010, and ultimately 4.5 million tonnes of polyolefins annually by 2013.

Commenting on the contract, Abdulaziz Alhajri, Chief Executive Officer of Abu Dhabi Polymers Company, said, "In addition to the ethane cracker, the expansion includes the construction of second generation Borstar polypropylene and polyethylene units, a low density polyethylene unit and a Butene unit, as well as related off-site utilities and marine facilities."

"We at Linde Engineering are proud to be the supplier of ethylene technology for the Ruwais complex. Our relationship with ADNOC, enriched by our gases joint venture 'Elixier', and Borealis is now stronger than ever, thus making The Linde Group the leading gases and engineering company in the Middle East," Aldo Belloni, member of the Executive Board of Linde, stated.

Borouge and Borealis, with more than 40 years of experience in polyolefins and using its Borstar technology, focus on the infrastructure, automotive and advanced packaging markets. The companies have production facilities, innovation centres and service centres across Europe, the Middle East and Asia Pacific and work with customers in more than 170 countries around the world.

Linde Group has almost 52,000 employees working in around 100 countries worldwide. In fiscal 2008, the company achieved sales of EUR 12.7 billion.

On June 23, Linde said that the construction of a plant to convert landfill gas into clean vehicle fuel is nearing completion at the Altamont Landfill near Livermore, California. The project is a joint venture between Linde North America and Waste Management, Inc. (WMI | Quote | Chart | News | PowerRating).

The companies are installing systems to purify and liquefy landfill gas, a source of renewable biomethane fuel. When the plant begins operating later this year, it is designed to produce up to 13,000 gallons a day of liquefied natural gas that could fuel hundreds of waste collection trucks in California.

For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

For full details for LIN click here.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [LIN]
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.