Maire Tecnimont S.p.A. (Milan, Italy; www.mairetecnimont.com) announced that its subsidiary Tecnimont S.p.A., through its affiliate Tecnimont Philippines Inc., has been awarded jointly with JGC Philippines (Tecnimont Philippines 65% – JGC Philippines 35%) an EPC Lump Sum contract by JG Summit Petrochemical Corporation (JGSPC), for the implementation of a new High Density Polyethylene unit (HDPE) plant and the upgrading of an existing Polypropylene unit (PP). The units will be located 120 km south of Manila, in Batangas City, Philippines.
JGSPC, part of JS Summit Holdings Group, is the largest manufacturer of polyolefins in the Philippines.
The EPC Lump Sum contract overall value is in the range of $180 million. The project scope entails Engineering, Procurement and Construction activities up to Ready for Commissioning. Once the project is completed, the new HDPE plant will have a capacity of 250,000 metric tons per year (m.t./yr) of HDPE based on Chevron Phillips Chemical’s MarTECH technology, while the existing PP plant will expand to 300,000 m.t./yr of PP based on Grace’s UNIPOL PP technology.
The project has an overall execution period of 26 months.
Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer, commented: “With this first important step in the Philippines supporting a prestigious client such as JGSPC, we confirm our global leadership in polyolefins, and we consolidate our technology-driven footprint in South East Asia, a market with a very promising downstream investment cycle thanks to the availability of natural resources and the growing demand for chemical products. Furthermore, the partnership with JGC Philippines lets us strengthen the long-lasting and fruitful relationship between JGC and Maire Tecnimont.”