- Anchorage Investments selected Novolen polypropylene (PP) technology for its low capital and operating expense, simple process, and competitive and flexible solutions for a full range of PP products
- Anchor Benitoite project expected to increase petrochemical activity in the region and strengthen Egypt's competitiveness as a petrochemical hub.
- Selection reinforces Novolen's position as the industry's leading licensor of PP technology
HOUSTON, May 20, 2021 /PRNewswire/ -- Lummus Technology today announced that its Novolen business has been selected as the PP licensor by Anchorage Investments for its Anchor Benitoite project in Suez, Egypt. Lummus' scope includes the technology license for a 590 KTA polypropylene unit as well as basic design engineering, training and services, catalyst supply and operator training simulator services.
"The Anchor Benitoite project will include a 590 KTA Novolen PP unit as the main derivative of the propylene produced within the complex," said Dr. Ahmed M. A. Moharram, Founder and Managing Director of Anchorage Investments. "The low investment and operating costs for Novolen technology based on its efficiency, combined with the process simplicity and the robustness of operation while offering a wide product slate, were the key drivers for our selection of the PP technology."
"We are thankful to Anchorage Investments for selecting Novolen's technology, which has solidified its place as the leading PP technology licensed over the past few years," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "The global PP market continues to show overall resilience to demand sensitivities and fluctuations in certain segments, and Novolen's PP technology offers the best solution because of its flexibility and ability to adapt to changing market conditions."
The Anchor Benitoite project will encompass production units producing several different petrochemical products and intermediates. Located near the Suez Canal, an area that provides distinctive advantages in terms of its geographical location, port connectivity and associated capital and operating costs, Anchor Benitoite is envisioned to be a gateway to petrochemical activity on regional and global scales, increasing Egypt's competitiveness and position as a petrochemical hub.
Anchorage Investments Ltd. (www.anchinv.com) comprises of separate entities in the fields of: development of petrochemicals projects, mining/quarrying, project management, and development of beneficiation/building materials manufacturing projects. The company's petrochemicals division was established with the objective of developing, owning and operating petrochemicals projects in the Middle East region. These projects will produce basic petrochemicals building blocks, intermediates, derivatives and final products that would fill-in market gaps domestically, regionally and globally.
Lummus Novolen Technology GmbH licenses polypropylene technology and provides related engineering and technical support/advisory services. Novolen also supplies NHP catalysts for the production of high-performance polypropylene grades in the Novolen process and NOVOCENE metallocene catalyst for the production of special polypropylene grades.
About Lummus Technology
With a heritage spanning more than 110 years and a focus on innovation that has resulted in approximately 130 technologies and 3,400 patents, Lummus Technology is the global leader in developing and implementing process technologies. We are a Master Licensor of petrochemical, refining, gasification, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment and related services to customers worldwide. To learn more about the new Lummus, visit www.LummusTechnology.com.
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