11 – 12 April 2019  |   Moscow, Russia

TOYO awarded petrochemical project in Russia

Posted by GBC on 01-02-2019

Toyo Engineering Corporation has been awarded a contract to build a 650,000 t/y ethylene and polyethylene plant located in Ust-Kut, Irkutsk region by Irkutsk Polymer Plant, a subsidiary of Irkutsk Oil Company (INK) – the company announced on its website.

Irkutsk Oil Company has been interested in reduction of the environmental burden by shifting to rational utilization of the associated petroleum gas instead of flaring it off, that enables off-gas to be utilized for production of the value-added petrochemical products.

In this aspect, TOYO has cooperated with Irkutsk Oil Company since 2011 providing advisory, planning and support work for modernizing the company’s industrial facilities under the General Engineering Service Agreement (GESA), which resulted in realization of the project. The plant will include a Ethylene plant licensed by Lummus Technology Inc. (650,000 tons per year) and a Polyethylene plant licensed by Univation Technologies, LLC) (650,000 tons per year)

In September 2018 an Agreement for Cooperation regarding construction of the gas chemical complex was signed, in the honorary presence of the Prime Minister Shinzo Abe and the President of Russia Vladimir Putin, during the 4th Eastern Economic Forum held in Vladivostok.