Petrofac wins USD110m worth contracts in Iraq

MOSCOW (MRC) -- Petrofac has won a new award and a number of contract extensions for construction management, engineering, commissioning and start-up services for international oil company clients in Iraq, as per Compelo.

Petrofac has been active in Iraq since 2010 and has developed a significant track record in delivering a range of onshore and offshore greenfield and brownfield projects, project management, engineering and consultancy, operations and maintenance and training services.

Mani Rajapathy, Managing Director, Engineering & Production Services East, commented: "The extension of our Iraq portfolio is part of our ongoing growth strategy. We continue to expand our service delivery in-country through the development of strong client relationships, whilst remaining competitive in a maturing market.

"These contract extensions and additional contract award from major international oil companies further enhance our position, where our focus remains on operational excellence, the development of local resources, and safe project execution."

As MRC informed earlier, Petrofac has been awarded a contract worth USD265million for the development of the Marmul Polymer Phase 3 (MPP3) Project in southern Oman.

Zhong Tian halts production at PP plant

MOSCOW (MRC) -- Zhong Tian He Chuang a joint venture of Sinopec and China Coal Energy Group, has taken off-stream a polypropylene (PP) plant owing to a technical glitch, as per Apic-online.

A Polymerupdate source in China informed that the company has undertaken an emergency shutdown at the plant in mid-June, 2018. Further details on duration of an unplanned outage could not be ascertained.

Located at Ordos in Inner Mongolia, China, the plant has a production capacity of 350,000 mt/year.

As MRC wrote prevously, China's Sinopec group, parent of Sinopec Corp, will invest USD29.05 billion to upgrade four refining bases between 2016 and 2020 to produce higher-quality fuels.

China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group's key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.

China Tianchen Engineering Corp to Build PP Plant for Tianjin Bohua

MOSCOW (MRC) -- China Tianchen Engineering Corp. has won a CNY 689 million (USD108 million) contract to build a 300,000 tonne/year polypropylene (PP) plant for Tianjin Bohua, Tianchen's parent firm China National Chemical Engineering Co (CNCEC), as per Bloomberg.

The contract covers engineering, procurement and construction (EPC) of the project. The PP plant is part of Tianjin Bohua s grassroots petrochemical complex at Nangang industry park in Tianjin, which converts methanol into olefins and other derivatives. The Nangang petrochemical complex is expected to start operation in late 2020.

China Tianchen Engineering Corporation provides construction and engineering services. The company was founded in 1953 and is based in Tianjin, China. China Tianchen Engineering Corporation operates as a subsidiary of China National Chemical Engineering Group Corporation.

KraussMaffei acquires stake in online used machinery startup Gindumac

MOSCOW (MRC) -- In a move designed to help it fully map the life cycle of used plastics processing machinery, processing machinery maker KraussMaffei Group is has bought a stake in the German second-hand machinery start-up Gindumac GmbH, as per Canplastics.

Gindumac – which stands for Global Industrial Machinery Cluster – develops and operates an online sales platform for plastics processing machinery, machine tools, and sheet metal working equipment.

In a statement, Germany-based KraussMaffei said it will now be better placed to implement “Old for New” deals when plastic processors decide to replace machinery. “When buying a new machine, Gindumac guarantees fair and market-driven purchase prices for the used machine currently in use,” KraussMaffie said. “In less than 48 hours, Gindumac can determine the current market value of each plastics processing machine using a proprietary evaluation software solution that compares current market prices based on an intelligent data algorithm."

"The Gindumac platform extends the KraussMaffei Group’s digital platform-based offering,” the company continued. “Together with a strong partner KraussMaffei, Gindumac will digitize the used machinery trading even more and further expand its expertise in plastics processing machinery."

Gindumac has teams at locations in Kaiserslautern, Germany, Barcelona, Spain, and Mumbai, India that consist of “forward-thinking talents from more than 13 countries,” KruassMaffie said. “Gindumac sees itself as a digital company that develops new solutions for the used machinery trading in a progressive, visionary, courageous and implementation-oriented manner."

Samsung Engineering wins USD549 mn petrochem plant deal in Vietnam

MOSCOW (MRC) -- South Korea’s Samsung Engineering Co. clinched two petrochemical plant orders worth a combined 615.3 billion won (USD548.5 million) from Vietnam’s Long Son Petrochemicals Co., as per Pulsenews.

Under an exclusive engineering, procurement and construction deal, Samsung Engineering would be in charge of building the Package B high-density polyethylene (HDPE) plant and the Package C polypropylene (PP) plant, the company said Thursday. The plants are worth 338.3 billion won and 277 billion won, respectively, amounting to 11.1 percent of its total 2017 sales.

The HDPE plant will have an annual capacity of 450,000 tons and the PP plant 400,000 tons, the company said. It plans to complete the construction by 2022.

The project is part of the Long Son Petrochemical Complex, an industrial site in the southern province of Ba Ria-Vung Tau that would be the biggest of its kind in Vietnam when completed.

"We expect this deal to help bolster our market presence in Vietnam, Thailand and Southeast Asia at large," said a Samsung Engineering official.

This is the Korean company’s fifth project with Long Son Petrochemicals, a subsidiary of Siam Cement Group, Thailand’s largest private sector company.

Samsung Engineering has built a solid track record in the polyethylene field, completing more than 10 related projects overseas.