Advanced wins S$8.7m in equipment contracts

17 July 2007 08:00  [Source: ICIS news]

SINGAPORE (ICIS news)--Singapore-based equipment producer Advanced Holdings said on Tuesday it has won contracts worth Singapore dollars (S$) 8.7m ($5.7m) from Lucite International and two Chinese oil companies Sinopec and PetroChina.

 

The company will provide process equipment and engineering services to the three companies’ petrochemical plants and refineries, it said in a statement on its website.

 

China’s demand for ethylene and refining products was growing very rapidly and ethylene capacity was forecast to double by 2014, Kar Wong, managing director of Advanced Holdings, said.

 

Sinopec and PetroChina have over 10 cracker projects in the pipeline.

 

Lucite, the world’s largest MMA producer, broke ground on its 120,000 tonne/year project in Singapore last year.

 

($1 = S$1.52)

By: Florence Tan
+65 6780 4359

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