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Hedge Funds On A Roll, But Underlying Problems Remain


Wood has secured a new engineering, procurement, construction management (EPCm) contract to deliver a major expansion at INOVYN's Rafnes plant in Telemark, Norway.

The company will support the Vinyl Chloride Monomer (VCM) project to increase production capacity at the onshore chemical plant by around 70 kilo tonnes a year. Detailed engineering, procurement, installation management and package and fabrication follow-up are included in the 18 month contract, which is effective immediately.

Wood has been supporting INOVYN's portfolio for 30 years. This latest contract extends the company's footprint in the onshore downstream sector in Europe.

The VCM project comprises installation of a new oxychlorination reactor weighing more than 300 tonnes and including 4 kilometres of pipeline, and a High Temperature Direct Chlorination module (HTDC) alongside various debottlenecking activities and modifications. 

Dave Stewart, CEO of Wood's Asset Solutions business in Europe, Africa, Asia & Australia said: "We are strategically focused on leveraging our extensive offshore experience to broaden our downstream footprint across Europe.

"We look forward to partnering with INOVYN to deliver this major project to significantly extend this key asset in their Nordic hub. Our commitment is to harnessing Wood's global EPCm experience supporting onshore sites, innovative solutions and strong knowledge of the Norwegian sector to deliver efficiently, safely and successfully."


Visit source site

https://woodplc.com/investors/financial-and-regula...

WoodNorwayonshoreChemical Plant

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