Aberdeen's Wood secures major Chinese refinery contract
The firm, which employs some 45,000 people globally, has agreed a $120 million (£88.5m) deal with Sinopec Hainan Refining and Chemical to provide engineering, procurement and construction (EPC) services to expand its refinery development in the south of the country.
Once completed, the ethylene renovation and expansion project will produce up to one million tonnes of ethylene derivatives and refined oil on an annual basis and is expected to boost economic growth in China’s downstream sector by more than $14 billion. The output will serve ethylene demand across China and globally.
Under the contract, EPC services will be delivered by Wood’s engineering and project management teams based in Shanghai and on site.
Mike Collins, Wood’s executive president of projects, said: “We are delighted to win this new contract with Sinopec which demonstrates the strength of our long-standing relationship with the client and their confidence in our extensive EPC expertise in the petrochemical sector.
“We look forward to continuing our partnership to deliver this project safely, sustainably and on-time, making a positive contribution to this significant development.
“Wood is uniquely placed to leverage our engineering design expertise and global petrochemical track record to play a significant role in the growth of Sinopec’s business and the economic development of Hainan, boosting the local supply chain.”
The Scottish group provides consulting, projects and operations services in more than 60 countries.
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