Lurgi awarded three contracts worth over E210 million

15-Mar-05

MG Technologies AG's Lurgi AG unit has won major international contracts worth over EUR210 million, one each in Saudi Arabia, Indonesia and Iran. Lurgi is starting to gain momentum once again, post- restructuring, as well as refocusing portfolio on profitable technologies. Lurgi is to build the largest propane-processing plant of its kind for almost 180 million in Saudi Arabia, a plant to produce fatty alcohol in Indonesia, and a propylene plant in Iran. If this positive order trend continues, Lurgi will definitely be operating profitably in 2005. * The plant located in Saudi Arabia's Yanbu is to convert propane into approx, 400,000 tpa of propylene, for the Saudi Arabian National Petrochemical Company (NatPet). The plant is due to come on stream at the end of 2007. * The fatty-alcohol plant located in Sumatra in Indonesia is being built for Sawit Mas, and is due to be operational in 2006. * The propylene plant in Iran, is to be the first to use the methanol-to-propylene (MTP) process developed and patented by Lurgi on an industrial scale. This cost-effective gas-based process is used to turn methanol into propylene. In the past, this plastic has been manufactured almost exclusively from crude oil. The plant will be able to produce 100,000 tpa of propylene and is scheduled to come on stream in 2009.