Foster Wheeler AG
) an order for the automation of inventory operations management
of a chemical complex under construction by Sadara Chemical
Company in Jubail Industrial City II, Saudi Arabia. The order was
booked in the first quarter of 2013.
Financial terms of the deal were not disclosed. The automation
is expected to maximize the operational efficiency of Sadara
Chemical Company's two distribution terminals.
A joint venture between Saudi Arabian Oil Company (Saudi
Aramco) and The Dow Chemical Company (Dow), Sadara is believed to
be one of the world's largest integrated chemical facilities and
the largest ever built in a single phase. It attracted
investments worth $20 billion. The project commenced in 2011.
The Sadara Complex is expected to become fully operational by
the end of 2016. The complex will comprise 26 world scale
manufacturing units and is estimated that it will produce
approximately 3 million tons of plastics and high value added
chemicals per annum.
According to the contract, ABB will be responsible for the
design and execution of the automation of the tank farms and
portions of the packaging center. This will also include the
transfer through pipes, trucks or trains of bulk raw materials
and finished products to and from the complex and between
ABB has been working for the Sadara project since 2011 after
it was selected as the Main Automation Contractor. ABB has been
responsible for the process automation systems, safety systems
and related services, such as project management, project
engineering and other site support activities. The project
undertaken in 2011 is currently under construction and it is
expected to be one of the biggest projects ABB has ever
For the current project, ABB intends to deploy T-MAC Plus
system to optimize the operation and increase energy efficiency,
safety and control. T-MAC uses graphically configured components
throughout to deliver a completely flexible solution that exactly
matches a terminal's requirements.
Based in Zurich, ABB is a leading provider of Process
Automation Technology by providing its customers with solutions
instrumentation, automation and optimization of industrial
processes. The industries served include oil and gas, power,
chemicals and pharmaceuticals, pulp and paper, metals and
minerals, and marine and turbocharging.
ABB currently has a Zacks Rank #3 (Hold). However, some other
stocks worth considering include
Orion Marine Group Inc.
) having a Zacks Rank #1 (Strong Buy) and
Plug Power Inc.
) having a Zacks Rank #2 (Buy).
ABB LTD-ADR (ABB): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis
ORION MARINE GP (ORN): Free Stock Analysis
PLUG POWER INC (PLUG): Free Stock Analysis
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