Kvaerner wins $17m acetic acid plant contract from Yaraco

14 January 2004 17:39  [Source: ICIS news]

LONDON (CNI)--Aker Kvaerner said Wednesday it has received an engineering, procurement and construction (EPC) management service contract for expansion of the acetic acid facility of Yangtze River Acetyls Co (Yaraco) in Chongqing, China.

 

The Norwegian engineering group said the $17m (Euro13.23m) contract covers the second phase of this project, involving the core process plant and implementation of BP Chemicals' Cativa technology.

 

The expansion project, which includes a new carbon monoxide (CO) plant to provide additional feedstocks, is due to be completed in March 2005. The acetic acid plant’s capacity will be raised to 350 000 tonne/year from 200 000 tonne/year.

 

In the first phase, Aker Kvaerner provided the basic project definition and capital cost estimate.

 

Wim van der Zande, president of Aker Kvaerner’s European process business, said: "We are delighted to be working on the next phase of this project … This is a joint venture between two of our key clients - Sinopec and BP - in, for Aker Kvaerner, an important Chinese market and one of our core process businesses.”

 

Yaraco is owned by BP Chemicals (51%), Sinopec Sichuan Vinylon Works (44%) and Chongqing Investment and Construction Co (5%).

By: Russell Ong
+44 208 652 3214

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