Leading engineering and construction services provider
) recently announced that it has received a contract from Midwest
Fertilizer Corporation for its upcoming facility in Mt. Vernon,
Indiana. The deal will be booked in the company's fourth quarter
backlogs, but financial terms remained undisclosed.
The scope of the deal requires KBR to provide its globally
renowned Purifier technology for the new fertilizer manufacturing
plant. This innovative technology had been designed to optimize
operational efficiency while significantly reducing capital
costs. Also, this technology has been established as the lowest
energy-consuming solution in the industry. Apart from this, the
company will also have to provide engineering and design package,
proprietary equipment, and technology license for the
This facility has a per day ammonia production capacity of
2,200 metric ton, critical for the overall development of
Indiana. The facility is likely to improve agriculture production
and provide employment opportunities in the region.
KBR is an industrial construction and engineering facility
provider, offering services to hydrocarbon, chemical and
petrochemical industries. KBR has a 60-year old legacy of
providing construction and maintenance services.
In Nov 2013, KBR had received a contract from Algeria-based
petrochemical firm Fertial SpA to conduct a study for upgrading a
couple of regional ammonia plants. Going forward, with continued
growth in demand for construction and maintenance services, we
expect the company to secure more such contracts in the imminent
KBR currently has a Zacks Rank #5 (Strong Sell). Better-ranked
stocks in the engineering and construction sector worth
considering at the moment include
), which carries a Zacks Rank #1 (Strong Buy), and
Jiangsu Expressway Co. Ltd.
), both carrying a Zacks Rank #2 (Buy).
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