Jacobs Engineering Group Inc. (NYSE:JEC) has been awarded a contract to complete a front end engineering design (FEED) study for a propane dehydrogenation (PDH) plant located at the existing Borealis production site in Kallo, Belgium. The contract award follows the successful completion of the feasibility study for the plant. When complete, the new PDH plant will have a targeted annual production capacity of 740 kilotons, making it one of the largest and most efficient facilities in the world.
As part of the FEED study, Jacobs is preparing the basic design package for both the inside battery limit areas as well as the outside battery limit areas of the new PDH plant. The FEED phase is scheduled for completion by mid-2018.
“A new and innovative PDH plant of this scale would be a significant investment in the chemical industry in Europe and a response to market demand for polypropylene and propylene,” said Jacobs Petroleum and Chemicals President Vinayak Pai. “We look forward to continuing our relationships with Borealis through the next development phase of this world-scale petrochemical plant.”
“We have selected a trusted partner in Jacobs Engineering for the FEED phase of this important project, which will allow us to further strengthen our position as a leading and innovative polypropylene and propylene supplier in Europe,” said Borealis Base Chemicals Executive Vice President Markku Korvenranta.
Jacobs leads the global professional services sector, delivering solutions for a more connected, sustainable world. With $15 billion in combined revenue and a talent force more than 74,000 strong, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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