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Chicago Bridge & Iron Company N.V. (NYSE:CBI) Announces Ethylene Heater Award For Rapid Project of PETRONAS

Boston, MA 10/06/2014 (wallstreetpr) – According to reports, Chicago Bridge & Iron Company N.V. (NYSE:CBI) announced that it had been awarded Ethylene Heater Award For rapid project of PETRONAS. The award worth more than $200 million was given by Toyo Engineering Corp.

Insights of the project:

As per the terms of this project, Chicago Bridge & Iron Company N.V. (NYSE:CBI) will take care of supply and engineering of ethylene heaters for the Refinery and Petrochemicals Integrated Development project of PETRONAS. RAPID project is based in Pengerang, Johor, Malaysia. All the SRT VII cracking heaters will be utilized by this unit for the production of 1.1 million metric tons per annum of ethylene. Cracking heaters of SRT are very high end heaters, which are specially designed for the liquid and gas feedstock. Earlier, the entire steam cracker technology package was awarded to CBI under a separate contract.

Management of Chicago Bridge & Iron Company N.V. (NYSE:CBI) is very delighted to receive this project. According to Daniel McCarthy, President of Technology Operating Group of CBI, technology that is used in all the products of CBI is appreciate by clients. All the SRT cracking heaters are known for very high reliability and selectivity. Clients from all over the world turn towards CBI because of exceptional technology and amazing service provided by it within their prescribed budget.

If taken into consideration today’s data, then one can easily figure out that over 40% of total annual ethylene capacity is produced by SRT cracking heaters. PETRONAS runs a development program called Pengerang Integrated Complex development; RAPID is a part of this program and its associated facilities. These associated facilities include re-gasification terminal 2, pengerang co-generation plant, raw water supply project, air separation unit, and product & crude tanks. Chicago Bridge & Iron Company N.V. (NYSE:CBI) is considered as the best and most complete company in terms of energy infrastructure. It is one of the largest providers of government services.

Published by Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email ([email protected]) or his Google+ page (https://plus.google.com/103338576216002376250).

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