The Shaw Group Inc. (NYSE: SHAW) today announced full commercial operation of the grassroots ethylene plant for Eastern Petrochemical Company (SHARQ) in Al-Jubail, Saudi Arabia. Shaw provided its proprietary ethylene technology and engineering, procurement and construction management for the 1.3 million metric tons per year ethylene plant. Shaw also provided operational support during the commissioning and startup of the plant, which uses ethane and propane as feedstocks.
"With this facility now in full operation, Shaw continues to strengthen its global reputation for providing ethylene plants with high operational reliability and superior performance," said Lou Pucher, president of Shaw's Energy & Chemicals Group.
Significant project facts include:
- The project includes eight of Shaw's proprietary Ultra Selective Conversion (USC®) cracking furnaces, which are recognized for their large capacity, high yields, and long run lengths. This technology is based on more than 40 years of development and commercial experience.
- Shaw's comprehensive site safety program, which was delivered in multiple languages to all project personnel, resulted in the project being completed without a lost-time incident.
- At peak construction, more than 12,000 field personnel representing more than a dozen countries worked on the plant, which will provide ethylene and propylene for various downstream units at the Al-Jubail industrial complex.
An established leader in ethylene technology, Shaw has provided technology, design, engineering and/or construction for 120 grassroots plants worldwide. In addition to the SHARQ project, Shaw currently is providing ethylene technology, proprietary equipment, technical support and/or engineering, procurement and construction services for other major olefins projects in Brazil, France, Turkey, India, Thailand, Singapore, China and Korea.
SHARQ is a joint venture equally owned by Saudi Basic Industries Corporation and SPDC Ltd, a Japanese consortium led by the government of Japan and the Mitsubishi group of companies.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2009 annual revenues of $7.3 billion, Shaw has approximately 28,000 employees around the world. For more information, please visit Shaw's website at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" or other similar expressions) and statements related to revenues, earnings, backlog or other financial information or results are forward-looking statements based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's Web site under the heading "Forward-Looking Statements." These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the company and announcements it makes from time to time on a regional basis, visit our Web site at www.shawgrp.com.
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Contacts:
The Shaw Group Inc.
Financial Contact:
Chris Sammons,
225-932-2546
chris.sammons@shawgrp.com
or
Media
Contact:
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com
