Trade News
Manila, Philippines, 4 July 2012 - Linde Philippines Inc., a member of The Linde Group, today announced that it had been awarded a contract by JG Summit Petrochemicals Corporation to install and operate nitrogen and hydrogen on-site plants to support JG Summit's petrochemical plant and the installation of the first naphtha cracker plant in the country. Linde's total investment of PHP 630 million (EUR10 million) for these facilities will further consolidate its position as the leading industrial gas supplier in the country.
Mr. Tristan Dumlao, Managing Director of Linde Philippines, said, "We are delighted to be able to support our valued customer JG Summit in this watershed project, which is expected to provide a boost to the petrochemical industry in the Philippines and contribute to further growth in the national economy."
Mr. Rob Hughes, Cluster Head responsible for Linde's businesses in Korea and the Philippines said, “This latest investment is reflective of The Linde Group’s commitment to grow its business in the Philippines, which we see as an attractive investment destination given its strong growth prospects. We look forward to a successful long term partnership with JG Summit Petrochemicals as it moves forward with its growth plans.”
Mr. Lance Gokongwei, President and Chief Operating Officer of JG Summit said, "By investing to build the first naphtha cracker plant in the country, JG Summit will have a steady source of olefins for its petrochemical plants. It will also be able to supply other plants which are presently relying on imports to sustain their local operations. I am pleased that we have reached this agreement with Linde Philippines and look forward to a successful long-term partnership."
In January, Linde Philippines brought onstream its new 24 tons per day carbon dioxide plant in Balamban, Cebu with an investment value of PHP 205 million (around EUR 3.5 million). The company is also investing PHP 95 million (around EUR 1.6 million) to install a nitrogen generator in Muntinlupa City to meet additional demand. Linde Philippines has also recently invested PHP 17 million (about EUR 300,000) in its regional production hub for VAPORMATE™, a post-harvest fumigant with applications for the agricultural sector.
About Linde Philippines Inc.
Linde Philippines, Inc., a member of The Linde Group, is the leading industrial gas supplier in the country. The company manufactures and distributes industrial, specialty and medical gases, and provides a range of related services including the installation of gas equipment, pipelines, on-site plants and associated engineering services.
For more information, see http://www.linde.com.ph
About The Linde Group
The Linde Group is a world-leading gases and engineering company with approximately 50,500 employees working in more than 100 countries worldwide. In the 2011 financial year, it achieved sales of EUR 13.787 billion. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at http://www.linde.com