HOUSTON,
April 22,
2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today
it has been awarded a contract by SABIC Fujian Petrochemicals to
license KBR's market-leading phenol technology in China.
Under the terms of the contract, KBR will provide
technology licensing and proprietary engineering design for a 250
KTA phenol plant at SABIC's Fujian Petrochemical Complex. The final
investment decision for this project was announced in January 2024 with expected completion in FY
2026. KBR's phenol technology offers a sustainable and
differentiated solution through reduced energy consumption and
improved yields.
"We are excited to offer our industry leading
phenol technology to SABIC Fujian for this ambitious project in
China," said Jay Ibrahim, President, KBR Sustainable
Technology Solutions. "KBR's market-leading phenol technology
increases our customers' competitive advantage and advances their
sustainability objectives through superior efficiency, reliability,
wastewater recovery and performance."
KBR is a global technology licensor and has
offered its leading phenol technology for more than six decades,
completing more than 50 phenol projects worldwide.
About KBR
We deliver science, technology and engineering
solutions to governments and companies around the world. KBR
employs approximately 34,000 people worldwide with customers in
more than 80 countries and operations in over 30 countries.
KBR is proud to work with its customers across
the globe to provide technology, value-added services, and
long-term operations and maintenance services to ensure consistent
delivery with predictable results. At KBR, We Deliver.
Visit www.kbr.com
About SABIC Fujian Petrochemicals
SABIC Fujian Petrochemicals Co., Ltd. is a joint
venture between SABIC Industrial Investment Company (wholly owned
by SABIC) and Fujian Fuhua Gulei Petrochemical Co., Ltd. (held by
Fujian Energy and Petrochemical Group). Formed in 2022, SABIC
Fujian Petrochemicals Co., Ltd. is a 51:49 joint venture with SABIC
being the majority owner. On January 22,
2024, SABIC announced the final investment decision for the
SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene
Complex Project) and plans to begin construction this year and
expects to complete construction in 2026. The complex is the
largest single investment joint venture project with foreign
investment in Fujian Province to
date.
Forward Looking Statements
The statements in this press release that are not
historical statements, including statements regarding project
completion, performance and outcomes, are forward-looking
statements within the meaning of the federal securities laws. These
statements are subject to numerous risks, uncertainties, and
assumptions, many of which are beyond the company's control, that
could cause actual results to differ materially from the results
expressed or implied by the statements. These risks, uncertainties
and assumptions include, but are not limited to, those set forth in
the company's most recently filed Annual Report on Form 10-K, any
subsequent Form 10-Qs and 8-Ks and other U.S. Securities and
Exchange Commission filings, which discuss some of the important
risks, uncertainties and assumptions that the company has
identified that may affect its business, results of operations and
financial condition. Due to such risks, uncertainties, and
assumptions, you are cautioned not to place undue reliance on such
forward-looking statements, which speak only as of the date hereof.
Except as required by law, the company undertakes no obligation to
revise or update publicly any forward-looking statements for any
reason.
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SOURCE KBR, Inc.