Cape to Provide Thermal Insulation Works on Borouge Phase 3 Project
Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, has been awarded a letter of intent valued at circa US$18 million to provide Thermal Insulation Works on the Borouge Phase 3 petrochemical project in Ruwais, Abu Dhabi. Cape has been operating in Abu Dhabi since 1979 and this award follows Cape's successful completion of the Thermal Insulation Works on Borouge Phases 1 & 2.
The award has been made by Consolidated Contractors International Company and Linde Engineering, the main Engineering, Construction and Procurement (EPC) contractors for the construction of the ethane cracker.
The Borouge Phase 3 expansion will quadruple Borouge's polyolefins production capacity at Ruwais to over 4.5 million tonnes per year by 2013, making it the largest integrated polyolefins site in the world.
Borouge is a leading provider of innovative, value creating plastics solutions. A joint venture between the Abu Dhabi National Oil Company (ADNOC), one of the world's major oil companies, and Austrian based Borealis, a leading provider of chemical and innovative plastics solutions, the company's footprint reaches across the Middle East, Asia Pacific, the Indian sub-continent and Africa.
Martin May, Chief Executive of Cape plc, commented::
"We are delighted to receive this award and to continue our long standing involvement with Borouge - the construction of one of the most impressive downstream facilities in the world."
Cape plc, which is listed on AIM (CIU), provides a range of non-mechanical industrial services including access systems, insulation, painting, coatings, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies. Cape employs c.17,000 people in 28 countries with its four main markets being the UK, Gulf/Middle East, CIS, Mediterranean and North Africa, and the Far East/ Pacific Rim. In the year ended 31 December 2009, Cape reported turnover of £655.1 million.
Published 06/07/2010
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