MOSCOW (MRC) -- Lummus Technology entered into a Distributor Agreement with Saudi ICON Oil & Gas (ICON), a subsidiary of Salem Balhamer Holding, one of The Kingdom of Saudi Arabia’s leading industrial conglomerates, said Hydrocarbonprocessing.
The agreement is for heat transfer opportunities in KSA, and will leverage the strengths of both companies. The agreement is designed to create heat transfer opportunities in KSA, and has the opportunity to strengthen Lummus’ competitiveness and client engagement in KSA.
Under the agreement, Both companies will leverage expertise, capabilities, local knowledge and local resources. ICON will offer the deep knowledge of the local industry and construction experience in The Kingdom. Lummus will offer heat transfer equipment expertise, engineering, design and supply chain capabilities, as well as Lummus’ legacy and brand name.
"Our agreement with ICON enhances our competitiveness and client engagement in KSA, and more broadly, it strengthens our position in The Middle East,” said Fadi Mhaini, Managing Director of Lummus’ Middle East Region. “This is a critical and growing market for petrochemicals, and as a result, it is critical for Lummus to capitalize on these opportunities."
"With ICON, we are partnering with a company that has in-depth relationships with clients and potential clients in The Kingdom’s market,” said Rutger Theunissen, Vice President of Lummus Heat Transfer (LHT). “And like Lummus, ICON has the drive and entrepreneurial spirit to play a key role in KSA’s petrochemical industry."
Asc per MRC, Lummus Technology will design and supply 14 cracking furnaces for the Baltic Chemical Plant (BCP) for the gas chemical complex under construction in Ust-Luga, Russia. The contract for the design and supply of SRT VI furnaces was concluded under the EPC contract with the EPC contractor of the project - China National Chemical Engineering & Construction Corporation Seven, Ltd. (CC7).
Besides, Lummus Technology has announced an award for its ethylbenzene technology from a customer in Jiangsu Province, China. Once complete, the unit will produce 508,000 tonnes/year of ethylbenzene via the EBOne technology.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 241,030 tonnes in January 2021 versus 217,890 tonnes a year earlier. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased
Lummus Technology is a master licensor of proprietary technologies in refining, petrochemicals, gas processing and coal gasification sectors, as well as a supplier of proprietary catalysts, equipment and related engineering services. It has about 130 licensed technologies and more than 3,400 patents and trademarks.
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