Technip, Odebrecht, ICA Fluor in $2.7 bln contract

Thu Oct 4, 2012 2:40pm EDT

Oct 4 (Reuters) - Technip SA, Odebrecht SA and ICA Fluor affiliate have won a $2.7 billion contract for the engineering, procurement and construction of a petrochemical complex to be built in the Mexican state of Veracruz, Technip said on Thursday.

The project is scheduled for completion in June 2015, said Technip, which will have a 40 percent share of the contract awarded by Braskem Idesa. Odebrecht will also have 40 percent, with ICA Fluor 20 percent.

The complex will include an ethane-based ethylene cracker, producing 1 million tonnes a year, and three polyethylene plants, as well as storage, waste treatment and utility facilities, including a 150-megawatt power plant.

"The Ethylene XXI cracker will be the most modern and efficient in operation in the Americas," Technip said in a statement.

Created in 2010, Braskem Idesa is a joint venture between Brazilian and Mexican petrochemical groups Braskem SA and Grupo Idesa. ICA Fluor is a joint venture of Fluor Corp and Empresas ICA SAB de CV of Mexico.