The Saudi Acrylic plant is on track and our progress with the plant has been phenomenal, said Suhail Akram, business development manager, Linde Engineering Middle East.
2012 has been a great year for business primarily because of the Saudi projects, he said.
The main reason for the company revenue rising this year is the major Sadara project win, he said. The Linde Group and Sadara Chemical Company signed a long-term contract that will see Linde supply Sadara with carbon monoxide (CO), hydrogen (H2) and ammonia (NH3) at a chemical complex now being built by Sadara in Jubail.
The on-site gases supply contract includes a HyCO facility for the production of CO and H2 plus an ammonia plant.
Linde will be investing USD 380 million in the project.
Akram said after Saudi Arabia, the UAE and Kuwait are big markets for the company. Another Middle Eastern country that holds enormous potential for the engineering company is Iraq. Also in the region, Akram reckons a lot of ethylene plants are going to be built in the future.
“Companies here are moving down the value chain and looking to integrate operations between refineries and petrochemical plants.”
But all the development in the region means the world is coming to the Middle East. Engineering companies are flocking to the Middle East, especially Saudi Arabia and Iraq in the hope of getting a chunk of the business.
Linde Engineering, however believes its customers are loyal because the company is not a typical EPC contractor as it adds value as a technology EPC player.
“We are aware of the number of companies in the region and to stay ahead one of the things we are doing, is having a diversified global supply chain. Abu Dhabi is a procurement centre and we have two in India and China, as well,” he said.
Speaking on the year ahead, Akram was positive 2013 will exceed expectations for the company on the back of the existing projects and those on the pipeline.