DUBAI, United Arab Emirates – February 5th, 2013- Honeywell (NYSE:HON) announced today that it has been awarded four major contracts worth a combined $40 million over an 18-month duration for the Borouge petrochemicals complex in Ruwais, Abu Dhabi. Honeywell will be the main automation contractor (MAC) for this project, providing Linde and other engineering, procurement and construction (EPCs) contractors involved in the project with integrated control and safety systems.
The installation of Honeywell Process Solutions’(HPS) control and safety systems, Experion® Process Knowledge System C300, Safety Manager, and Advanced Process Control will allow for operational integration, improved production, increased safety and reliability, and maximum operability and profitability. The Real Time Information Management System will provide Borouge 3 with business solutions that streamline, centralize and optimize operations, allowing for further profitability and productivity.
Borouge 3 is the latest expansion of Borouge’s polyolefins plant in Abu Dhabi and will manufacture ethylene, polyethylene, polypropylene, and low-density polyethylene (LDPE), alongside associated butane, utilities and offsite facilities. Honeywell’s technologies have previously been implemented in the Borouge 1 project in 1999 and the Borouge 2 project in 2010, and will continue to help Borouge meet its strategic goal of expanding the production capacity of the plant, making it the largest integrated polyolefins site in the world.
“We continue to see countries in the Middle East, such as the UAE, invest in growing their petrochemical capacity, as part of economic diversification strategies,” said Mansour Belhadj, sales director, Honeywell Process Solutions, Middle East. “With the Gulf region’s share in the global petrochemical market expected to grow to 20 percent by 2015, there is also a corresponding need for reliable, cost-effective processes, such as the solutions selected for Borouge 3, which can ensure that operational efficiencies are an integral part of the growth process.”
Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com. Honeywell Process Solutions is part of Honeywell’s Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access www.honeywellprocess.com
This release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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