Neste Jacobs has signed a long-term framework agreement with Abu Dhabi National Chemicals Company (ChemaWEyaat) covering engineering services for construction of one of the world's largest chemicals industrial cities.
The first complex to be built in the ChemaWEyaat Industrial City (Madeenat ChemaWEyaat) in the Khalifa Industrial Zone at Taweelah in Abu Dhabi, will include an ethylene cracker, a reformer, and various polymer and chemicals processing units. ChemaWEyaat is planning to build a number of similar complexes in Madeenat ChemaWEyaat. Under the framework agreement, Neste Jacobs could be commissioned to carry out significant front-end engineering work.
"Winning a framework agreement for such a major project against tough international competition is a great achievement for us and recognizes Neste Jacobs' competitiveness and engineering and process expertise. We expect the first work to be commissioned from us possibly as early as fall 2009 or in 2010," says Neste Jacobs' CEO, Tom Främling.
Mr. Mohamed Al Azdi, CEO of ChemaWEyaat says "We are very pleased to consolidate our cooperation and we look forward to working together with Neste Jacobs in the development of the complexes that will reside in Madeenat ChemaWEyaat."
Founded in 2008, Abu Dhabi National Chemicals Company ChemaWEyaat is owned by Abu Dhabi's International Petroleum Investment Company (40%), the Abu Dhabi Investment Council (40%), and Abu Dhabi National Oil Company (20%).
Neste Jacobs is jointly owned by Neste Oil (60%) and Jacobs Engineering Group Inc. of the US (40%) and has over 40 years of experience in engineering oil, plastics, and chemicals plants and implementing major capital projects in the field in Europe, North America, and the Middle East. Neste Jacobs employs 800 people and also makes use of a significant number of experts based in other Finnish and international engineering companies.
Neste Oil Corporation
Director, Corporate Communications
Lars Peter Lindfors, Senior Vice President, Technology & Strategy, Neste Oil
tel. +358 (0)50 458 3605
Tom Främling, CEO, Neste Jacobs tel. +358 (0)50 458 6850
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company's target is to be the world's leading supplier of renewable diesel. Neste Oil's refineries are located in Porvoo and Naantali and have a combined crude oil refining capacity of approx. 260,000 barrels a day. The company had net sales of EUR 15 billion in 2008 and employs around 5,200 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki. www.nesteoil.com.