Press Releases - Contracts


Paris-La Défense, September 23, 2003

Contract award for a petrochemical plant in China

Technip has been awarded, by Cangzhou Cang Hua Chemical Industry, a contract worth about US $50 million for a VCM/PVC plant to be built in their existing petrochemical complex at Guangzhou in the Guangdong Province, China.

This contract covers the license, basic and detailed engineering, supply of key equipment and materials as well as technical assistance for construction and commissioning. The project will be carried out by Technip’s engineering center in Kuala Lumpur.

The plant is scheduled to be completed in August 2005. It will produce 400,000 tons/year of VCM/PVC (vinyl chloride monomer/polyvinyl chloride) from EDC (ethane dichloride) and will use Technip’s EDC cracking technology. This client had already selected Technip in 1997 for a 120,000 tons/year VCM unit.

VCM is an intermediate chemical to produce PVC, a plastic commonly used in the piping and construction industries.

Technip has been working in China for 30 years, particularly in the petrochemical, chemical and fertilizers sectors. Altogether Technip has designed and built over 100 units on 50 different sites. This new contract follows two contracts won by the Group in 2003: a chemical plant for BASF and two polyethylene units for SECCO, all three at Caojing near Shanghai.

 

With a workforce of about 19,000 persons, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group’s main engineering and business centers are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the United States, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. The Group has high-quality industrial and construction facilities in France, Brazil, the UK, the USA, and Finland as well as a world-class fleet of offshore construction vessels.

 

Technip Press Relations

Sylvie Hallemans: Tel. +33 (0) 1 47 78 34 85 Fax: +33 (0) 1 47 78 24 33 shallemans@technip-coflexip.com

 

Technip Investor and Analyst Relations

Christopher Welton: Tel. +33 (0) 1 47 78 66 74 Fax: +33 (0) 1 47 78 67 58 cwelton@technip-coflexip.com

David-Alexandre Guez: Tel. +33 (0) 1 47 78 27 85 Fax: +33 (0) 1 47 78 67 58 daguez@technip-coflexip.com

 

Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext.