Sunpower wins contract from BaoTa olefins project

11-Jul-13

Sunpower has secured a RMB253.5 million Engineering Procurement and Construction (EPC) contract between its wholly-owned subsidiary, Jiangsu Sunpower Technology Co., Ltd. (Sunpower Technology) and Xinjiang Kuishan BaoTa Petrochemical Co., Ltd. (Xinjiang Kuishan BaoTa), a joint venture and a holding company of BaoTa Petrochemical Group (BaoTa Group). EPC contract includes the integration of sulphur recovery and flare systems into BaoTa Group’s Xinjiang Kuishan Petrochemical Base. The supply of sulphur recovery systems is valued at RMB206.0 million and expected to be delivered by the end of 2015. This EPC contract will have a positive impact on the Group’s FY2014 and FY2015 results; the supply of flare systems is valued at RMB47.5 million and expected to be delivered by the end of 2014. Xinjiang Kuishan Petrochemical Base is a large-scale oil-coal-chemical-power-heat integrated project with a total construction value of RMB29.8 billion and construction area of 10,000 mu.1 It boasts an annual designed capacity of 8 million tons of olefins and aromatics production through heavy oil catalytic cracking. The construction of the Xinjiang Kuishan Petrochemical Base is expected to be completed by 2015. Mainboard-listed Sunpower Group Ltd. Is a China-based heat transfer technology specialist engaged in the design, R&D and manufacture of energy efficient and environmental protection equipment for diverse industries.