Worley (ASX:WOR) wins two engineering contracts

Company News

by Lauren Evans

Worley (ASX:WOR) has received an engineering contract from Heartwell Renewables LLC, a joint venture between The Love’s Family of Companies and Cargill, for the renewable diesel plant in Hastings, Nebraska.

The new plant is set to produce around 302 million litres of renewable diesel per year from feedstocks such as vegetable oils and tallow. Worley’s services will be executed in Houston, Texas with support from its global integrated delivery team in India.

Separately, Worley has also received a contract from Borouge 4 LLC, a joint venture between ADNOC and Borealis, for the fourth expansion of Borouge’s polyolefins complex in Ruwais, United Arab Emirates.

The Borouge 4 expansion is set to boost Borouge’s production capacity of polyolefins, including polyethylene and polypropylene to 6.4 million tonnes per year from its current 5 million tonnes per year capacity.

This aims to help meet increased demand for polyolefins by manufacturers across the Middle East, Africa and Asia-Pacific.

Under the contract, Worley will provide project management consultancy services for the engineering, procurement, and construction phase of the Borouge 4 expansion.

Shares in Worley (ASX:WOR) last traded at $14.75 yesterday. 

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