Home Petrochemical KBR Awarded New Contract for Restarted Kima Fertilizer Project in Egypt

KBR Awarded New Contract for Restarted Kima Fertilizer Project in Egypt

KBR, Inc. (NYSE: KBR) announced today that it has been awarded a new contract for proprietary equipment and has also restarted work under the contract awarded by Tecnimont S.p.A. (part of Maire Tecnimont Group) previously announced in December 2011 for the License and Basic Engineering Design (BED) of a new ammonia plant to be built by Chemical Industries Holding Co. (Kima) in Aswan, Egypt.

KBR is providing Tecnimont with post-BED support and proprietary equipment for Kima’s new plant. The plant is being built on a fast-track basis and will support regional development plans in Aswan as well as Egypt’s drive to build modern fertilizer complexes. The project is expected to reach provisional acceptance in 34 months.

“KBR’s ammonia process is a benchmark in the industry as is evidenced by our global installed base,” said John Derbyshire, President, KBR Technology & Consulting. “We are honored that Kima has selected KBR. We look forward to working closely with our EPC partner Tecnimont to deliver a world-class ammonia plant to Kima.”

Since 1943, KBR has licensed more than 230 ammonia plants, pioneered large-scale ammonia facilities and introduced numerous commercially successful ammonia process technologies.

Revenue associated with this project is undisclosed and the new contract will be booked into backlog of unfilled orders for KBR’s Technology & Consulting Business Segment in Q1 of 2016.

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company’s indemnities from its former parent; changes in capital spending by the company’s customers; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

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