UOP Feasibility Study for Pertamina - Analyst Blog
October 08 2013 - 7:45PM
Zacks
Honeywell International Inc.’s (HON)
wholly-owned subsidiary UOP LLC was recently selected by PT
Pertamina to develop a master plan to improve operational
flexibility and augment the production of petrochemicals. Pertamina
is Indonesian state-owned oil and natural gas corporation based in
Jakarta.
UOP will prepare a “bankable feasible study” to recommend
modernization plans for five largest refineries of Pertamina. These
include refineries in Balikpapan, East Kalimantan; Cilacap, Central
Java; Dumai, Riau; Plaju, South Sumatra; and Balongan, West
Java.
The feasibility study, partially funded by a $1.07 million grant
from the U.S. Trade and Development Agency, will focus on viable
methods for upgrading the refineries for processing heavier
lower-quality crude oil. At the same time, UOP will also evaluate
the viability of a centralized terminal for crude imports.
Honeywell's UOP has been associated with Pertamina since 1972,
providing various technological licenses that are currently used in
all of its refineries. Thus, the current tie-up further reinforces
their long-standing business relationship.
Headquartered in Des Plaines, IL, UOP is a premier supplier of
process technology, catalysts, adsorbents, process plants, and
consulting services to the petroleum refining, petrochemical, and
gas processing industries across the globe. It is part of
Honeywell's Performance Materials and Technologies strategic
business group.
Based in Morris Township, NJ, Honeywell manufactures a wide range
of aerospace products and services, control, sensing and security
technologies for buildings, homes and industry, turbochargers,
automotive products, specialty chemicals, electronic and advanced
materials, process technology for refining and petrochemicals and
energy efficient products and solutions for homes, business and
transportation.
Honeywell organizes its business into four operating segments –
Aerospace, Automation and Control Solutions, Performance Materials
and Technologies, and Transportation Systems. Honeywell’s
diversified business portfolio mitigates operating risks and
enables it to earn consistent above-average returns.
Honeywell has a Zacks Rank #3 (Hold). Other players in the industry
worth mentioning include LSB Industries Inc.
(LXU), ITT Corp. (ITT) and Marubeni
Corp. (MARUY), each carrying a Zacks Rank #2 (Buy).
HONEYWELL INTL (HON): Free Stock Analysis Report
ITT CORP (ITT): Free Stock Analysis Report
LSB INDS INC (LXU): Free Stock Analysis Report
MARUBENI CORP (MARUY): Get Free Report
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