04-07-2012
Linde Philippines signs long term contract with JG Summit Petrochemicals Corporation
Linde Philippines Inc., a member of The Linde Group, today announced that it had been awarded a contract by JG Summit Petrochemicals Corporation to install and operate nitrogen and hydrogen on-site plants to support JG Summit's petrochemical plant and the installation of the first naphtha cracker plant in the country. Linde's total investment of PHP 630 million (EUR10 million) for these facilities will further consolidate its position as the leading industrial gas supplier in the country.
Mr. Tristan Dumlao, Managing Director of Linde Philippines, said, "We are delighted to be able to support our valued customer JG Summit in this watershed project, which is expected to provide a boost to the petrochemical industry in the Philippines and contribute to further growth in the national economy."
Mr. Rob Hughes, Cluster Head responsible for Linde's businesses in Korea and the Philippines said, “This latest investment is reflective of The Linde Group’s commitment to grow its business in the Philippines, which we see as an attractive investment destination given its strong growth prospects. We look forward to a successful long term partnership with JG Summit Petrochemicals as it moves forward with its growth plans.”
Mr. Lance Gokongwei, President and Chief Operating Officer of JG Summit said, "By investing to build the first naphtha cracker plant in the country, JG Summit will have a steady source of olefins for its petrochemical plants. It will also be able to supply other plants which are presently relying on imports to sustain their local operations. I am pleased that we have reached this agreement with Linde Philippines and look forward to a successful long-term partnership."
In January, Linde Philippines brought onstream its new 24 tons per day carbon dioxide plant in Balamban, Cebu with an investment value of PHP 205 million (around EUR 3.5 million). The company is also investing PHP 95 million (around EUR 1.6 million) to install a nitrogen generator in Muntinlupa City to meet additional demand. Linde Philippines has also recently invested PHP 17 million (about EUR 300,000) in its regional production hub for VAPORMATE™, a post-harvest fumigant with applications for the agricultural sector.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024
-
Radix partners with Cleopatra Enterprise to enhance project controls and turnaround management
Radix, a global technology solutions company, announced the signing of a partnership agreement with Cleopatra Enterprise, a leading project cost management software company. ...
16-04-2024
-
Rhône Energies in talks to buy Fos-sur-Mer refinery
Rhône Energies, a consortium of Entara LLC and Trafigura Pte Ltd, has entered into exclusive negotiations to acquire the Fos-sur-Mer refinery and the Toulouse and Villette ...
14-04-2024
-
Cenovus Energy to invest in Toledo and Lima refineries
Canada's Cenovus Energy said it will spend more than $1.5 billion on its 160,000 b/d Toledo and 185,000 b/d Lima refineries in Ohio over the next five years and expand ...
11-04-2024
-
Kent plays integral role in Fawley petrochemical complex
Kent, a leading global engineering and project management company, is proud to announce its significant involvement in ExxonMobil's £800m investment in its Fawley Petrochemical ...
11-04-2024