Chicago Bridge & Iron Wins E-Gas Technology Deal in China

Zacks

Chicago Bridge & Iron Company N.V. (CBI) has received a licensing and engineering services contract from the China-based Shandong Sincier Petrochemical Co., Ltd. for their forthcoming gasification unit in Dongying, Shandong Province.

The scope of the contract requires CBI to extend its E-GasPlus technology for the production of syngas via a three-train facility. The syngas is required for the production of hydrogen, power and fuel gas.

The gasification plant will be utilizing both coal and petroleum coke, separately or in combination, for its operations. Apart from this, the plant will also require the residue from an upstream hydrocracking facility.

CBI claims an experience of over 25 years regarding the deployment of E-Gas technology, which is not only high on efficiency and reliability standards but also complies with strict environmental norms. Moreover, the latest version of this technology, E-GasPlus, is designed in order to process both solid and liquid fuels at the same time, thus promoting optimal usage of the facility.

Prior to this contract, Sincier has already deployed CBI’s technology for six of its other processing units. These units produce diverse products ranging from octane booster, blendstocks for clean gasoline and petrochemicals to upgraded residues as well.

The aforementioned contract reaffirms CBI’s prowess in the domain, while strengthening it further. The company currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the industry include Sterling Construction Co. Inc. (STRL), CLARCOR Inc. (CLC) and Quanta Services, Inc. (PWR). All these stocks hold a Zacks Rank #2 (Buy).

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