CB&I Announces Storage Award for Expansion Project in The Philippines

THE WOODLANDS, Texas, March 6, 2018 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract valued at approximately $70 million by JG Summit Petrochemical Corporation (JGSPC) for the Stage 1 Expansion project in Batangas City, Philippines. CB&I's scope of work includes the engineering, fabrication and construction of ten traditional field erected storage tanks, one double-wall liquefied petroleum gas storage tank and three spheres. Additional scope of work includes technical evaluation to service multiple tanks on the project.

"CB&I has a long-standing relationship with JGSPC and more than 45 years of experience in the Philippines," said Richard Heo, CB&I's Executive Vice President of Fabrication Services. "CB&I previously provided a technology license, basic engineering package and heater supply to the project. This award underlines JGSPC's confidence in CB&I's vertically integrated capabilities and further strengthens our presence in the region."

About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With more than 125 years of experience, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com.

Important Information For Investors And Shareholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2017, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.

Investors: Scott Lamb, +1 832 513 1068, [email protected] 
Media: Gentry Brann, +1 832 513 1031, [email protected]

SOURCE CB&I

These press releases may also interest you at 12:05 Nearly 5,000 Nonprofits and Schools Benefit from Charitable Contributions from PG&E and The PG&E Corporation Foundation PG&E and The PG&E Corporation Foundation (PG&E Foundation) provided $25.6 million in charitable contributions in 2023, along with PG&E coworkers who contributed another $5.9 million ? all benefitting nearly 5,000 nonprofits and schools. Charitable... at 11:15 The Gouvernement du Québec supports two major projects in the Nord-du-Québec region Maïté Blanchette Vézina, Minister of Natural Resources and Forests and Minister Responsible for the Bas-Saint-Laurent Region and the Gaspésie?Îles-de-la-Madeleine Region, announced the Gouvernement du Québec's support for two major projects in the... at 10:00 Application window open for the IESO's Indigenous Energy Support Program As First Nations and Métis communities are increasingly at the forefront of Ontario's energy transformation, the Independent Electricity System Operator (IESO) is providing up to $15 million for Indigenous energy planning, infrastructure development... at 09:47 TotalEnergies Marketing USA and OK Petroleum announce strategic partnership to bring high performance products to Long Island, NY TotalEnergies Marketing USA, a leading provider of high-performance lubricants and specialty fluids, today announced a strategic partnership with OK Petroleum, a well-respected distributor in Long Island, NY. This collaboration will bring... at 09:15 CROSS TIMBERS ROYALTY TRUST DECLARES APRIL CASH DISTRIBUTION Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the "Trust") , today declared a cash distribution to the holders of its units of beneficial interest of $0.135867 per unit, payable on May 14, 2024, to unitholders of record on... at 09:15 HUGOTON ROYALTY TRUST DECLARES NO APRIL CASH DISTRIBUTION Argent Trust Company, as Trustee of the Hugoton Royalty Trust (the "Trust") announced today there would not be a cash distribution to the holders of its units of beneficial interest for April 2024 due to the excess cost positions on all three of the... More news about Oil industry...

News published on 6 march 2018 at 08:00 and distributed by: