Norway's Aker Kvaerner ASA wins design and consulting contract from PetroChina Petrochemical Company

Nordic Business Report, Feb 13, 2008

NORDIC BUSINESS REPORT-13 February 2008-Norway's Aker Kvaerner ASA wins design and consulting contract from PetroChina Petrochemical Company(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian engineering, construction and technology group Aker Kvaerner ASA said on Wednesday (13 February) that it has received a contract for design and technical consulting services from PetroChina Petrochemical Company.

No financial details were disclosed.

The contract covers services in connection with a new polypropylene facility to be built in Fushun in the province of Liaoning. The facility will be based on Dow Chemical Company's UNIPOL polypropylene process technology, and will have a capacity of 300.000 tons per year.

In addition to engineering design, Aker Kvaerner will also supply certain equipment.

The Fushun facility is Aker Kvaerner's third polypropylene project in China within a year.

Aker Kvaerner, headquartered in Oslo, Norway, has some 24,000 employees in 30 countries and annual revenues of approximately NOK50bn. The company is 40.27%-owned by the Norwegian industrial owner Aker ASA. Aker Kvaerner is listed on the Oslo Stock exchange and traded under the ticker AKVER.

One British pound (GBP) is worth approximately 10.78 Norwegian kroner (NOK).

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