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STONE & WEBSTER WINS SECOND MAJOR ETHYLENE PROJECT IN CHINA

 STONE & WEBSTER WINS SECOND MAJOR ETHYLENE PROJECT IN CHINA
 HOUSTON, July 17 /PRNewswire/ -- A consortium consisting of JGC Corporation, Marubeni Corporation, Mitsubishi Corporation and Stone & Webster Engineering Corporation has been awarded a contract by China Petrochemical International Company (Sinopec International) for a grass- roots ethylene plant at Maoming, Guangdong Province, China.
 As the ethylene technology licensor, Stone & Webster will provide process design of the plant, detail engineering of critical areas, training, and commissioning technical services. JGC will undertake the lump sum project responsibilities of the project such as detail engineering, procurement of offshore (non-Chinese) equipment, and construction supervisory services. The consortium will provide both Japan and the U.S. export credits valued at approximately US$200 million.
 The new plant, jointly owned by China Petrochemical Corporation (Sinopec) and the Provincial Government of Guangdong, will be built at a new site and operated by Sinopec Maoming Petrochemical Company. The contract was initialed in Beijing, with a formal contract signing ceremony scheduled for late August (also in Beijing).
 Stone & Webster will incorporate its Ultra Selective Conversion (USC) process, Advanced Recovery System (ARS), and advanced computer control. The plant will utilize naphtha and heavier liquid fees and have an annual capacity of 300,000 metric tons per year (MTA) polymer- grade ethylene and 165,000 MTA propylene.
 The associated petrochemical complex, scheduled to deliver products by early 1996, will serve areas such as South China's coastal economic development zones, Hong Kong, Macau and other overseas areas.
 The Maoming facility is China's first large capacity ethylene project to be awarded since 1979. The consortium won this project for its advanced and proven technology, the successful record of Sinopec's Daqing ethylene plant (also designed and engineered by Stone & Webster and JGC), and creative financing arranged by Marubeni and Mitsubishi.
 Earlier this year, Stone & Webster won a 150,000 MTA grass-roots ethylene project at Sinopec Guangzhou Petrochemical Works in Guangzhou, China.
 Stone & Webster Engineering Corporation is an international, multidisciplinary engineering and construction organization specializing in technologically advanced projects in such areas as refining and petrochemical work, power generation, and environmental restoration. The company also undertakes transportation, pulp and paper, and other industrial projects. Boston-based Stone & Webster Engineering Corporation is a subsidiary of Stone & Webster, Incorporated (NYSE: SW), of New York.
 -0- 7/17/92
 /CONTACT: Martin A. Reynolds of Stone & Webster Engineering, 617-589-1905/
 (SW) CO: Stone & Webster Engineering Corporation ST: Texas IN: CHM SU: CON


CK-TS -- NY024 -- 0184 07/17/92 11:07 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
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