CB&I Announces Storage Award for Expansion Project in The Philippines

THE WOODLANDS, Texas, March 6, 2018 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract valued at approximately $70 million by JG Summit Petrochemical Corporation (JGSPC) for the Stage 1 Expansion project in Batangas City, Philippines. CB&I's scope of work includes the engineering, fabrication and construction of ten traditional field erected storage tanks, one double-wall liquefied petroleum gas storage tank and three spheres. Additional scope of work includes technical evaluation to service multiple tanks on the project.

"CB&I has a long-standing relationship with JGSPC and more than 45 years of experience in the Philippines," said Richard Heo, CB&I's Executive Vice President of Fabrication Services. "CB&I previously provided a technology license, basic engineering package and heater supply to the project. This award underlines JGSPC's confidence in CB&I's vertically integrated capabilities and further strengthens our presence in the region."

About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With more than 125 years of experience, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com.

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Investors: Scott Lamb, +1 832 513 1068, [email protected] 
Media: Gentry Brann, +1 832 513 1031, [email protected]

SOURCE CB&I

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