LEHIGH VALLEY, Pa.,
April 19, 2015 /PRNewswire/
-- Air Products (NYSE: APD) announced today that it has been
awarded a contract by Saudi Aramco under a joint venture (JV) of
Air Products and ACWA Holding to build, own and operate the world's
largest industrial gas complex to supply 75,000 metric tons per day
(20,000 oxygen and 55,000 nitrogen) to Saudi Aramco's refinery
being built in Jazan, Saudi Arabia
for 20 years.
The industrial gas complex will be designed and built by Air
Products using its proprietary technology. Once built, this
facility will be owned by a JV of Air Products (25%) and ACWA
Holding (75%).
"We at Air Products are very excited about being awarded this
very significant project. We consider it an honor and a
privilege to use our proprietary technology to design and build the
world's largest industrial gas complex for an outstanding client
and the largest company in the world, Saudi Aramco. We are very
pleased that Saudi Aramco trusts Air Products and our partner ACWA
Holding to economically and reliably supply the critical gases
needed for its refinery in Jazan," said Seifi Ghasemi, chairman, president and chief
executive officer at Air Products. "This award also
demonstrates the value of our outstanding relationship with our
partner in ACWA Holding, who has worked so closely with us to
develop this great project."
"We are proud and thrilled to be selected as the partner of
choice by Saudi Aramco to develop this world scale industrial gases
project. This mammoth undertaking complements the portfolio of
power, water, renewable energy, district cooling, integrated waste
and resource recovery projects of ACWA Holding as the premier
infrastructure developer in the region. The partnership with
Air Products, the world leader in the field, is further testimony
to ACWA Holding's superior capability to develop large and critical
infrastructure projects in Saudi
Arabia and the region," said Mohamed Abunayan, ACWA Holding
Chairman.
About Air Products
Air Products (NYSE: APD) is a leading industrial gases company. For
nearly 75 years, the company has provided atmospheric, process and
specialty gases, and related equipment to manufacturing markets
including metals, food and beverage, refining and petrochemical,
and natural gas liquefaction. Air Products' materials technologies
segment serves the semiconductor, polyurethanes, cleaning and
coatings, and adhesives industries. Over 20,000 employees in 50
countries are working to make Air Products the world's safest and
best performing industrial gases company, providing sustainable
offerings and excellent service to all customers. In fiscal 2014,
Air Products had sales of $10.4
billion and was ranked number 276 on the Fortune 500 annual
list of public companies. For more information, visit
www.airproducts.com.
About ACWA Holding
Founded in 2002, and through
the vision of its founding partners, Al Muhaidib Group and Abdullah
Abunayyan Group, the Arabian Company for Water and Power
Development (ACWA Holding) identified the viability and a benefit
of the Public Private Partnership (PPP) to meet Saudi Arabia's growing demand for water and
electricity. The company's significant success in the field
facilitated leveraging the gained experience to expand into other
PPP type sectors where the company has now become the leader in
Water Recycling and Management, District Cooling, Municipal Waste
Recycling and Renewable Energy.
NOTE: This release may contain forward-looking statements
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's reasonable expectations and assumptions as of
the date of this release regarding important risk factors. Actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors not anticipated by management,
including risk factors described in the Company's Form 10K for its
fiscal year ended September 30,
2014.
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SOURCE Air Products