Hyundai Engineering announced in a statement that it had signed a basic design (FEED) service contract for a petrochemical production facility using waste plastics ordered by Encina Development Group of the United States.
This project is an eco-friendly project to construct facilities that convert 150,000 tons of benzene, toluene and other petrochemical products used in the production of pharmaceuticals, synthetic resins, and packaging materials in Northumberland, Pennsylvania, USA by chemically regenerating 450,000 tons of waste plastic annually.
Hyundai Engineering performs this Front End Engineering Design (FEED) service contract in the Open Book Cost Estimation (OBCE) method.
The OBCE method performs basic design and transparently shares details of EPC construction estimates with the client.
This basic design service contract is concluded in connection with the EPC construction contract, so Hyundai Engineering is expected to be able to carry out the main construction to be ordered in the future.
The US Encina Development Group, the client, is a company with core technology for recycling waste plastics, and plans to follow-up with chemical plant construction projects related to waste plastic treatment in the US, South America, and Southeast Asia.