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LONDON, UK / ACCESSWIRE / April 02, 2018 / Active-Investors.com has just released a free research report on KBR, Inc. (KBR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KBR as the Company's latest news hit the wire. On March 28, 2018, the Company shared that it has bagged a contract from Toyo Engineering Corporation. The contract with Toyo is for providing licensing and basic engineering design (LBED) services for an ammonia plant of Hindustan Urvarak and Rasayan Ltd's (HURL) greenfield urea project in Gorakhpur, India. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Toyo awarded the current contract to KBR after it bagged the contract from HURL to construct a large-scale fertilizer complex in Gorakhpur, Uttar Pradesh (UP) state, in India on March 15, 2018. The financial terms and other conditions of the contract between KBR and Toyo were not disclosed.
KBR is a leader in ammonia technology has extensive experience in providing licensing, design, engineering, and/or construction services. The Company has so far provided its services to over 230 grass roots ammonia plants and over 100 revamp ammonia projects worldwide.
Commenting on receiving the contract from Toyo for the HURL project, John Derbyshire, President of KBR Technology & Consulting, said:
"We are pleased that KBR's ammonia technology has been selected for the first greenfield urea plant being set-up by HURL as part of this initiative by the Government of India. This project will be an important milestone for India to meet its urea demand and KBR is honored and proud to be a part of this project."
Arun Kumar Gupta, Managing Director at HURL, added:
"HURL project at Gorakhpur shows the commitment and support of Government of India, Niti Aayog, Department of Fertilizer under Indian Ministry of Chemicals and Fertilizers and promoter companies, towards the Indian Fertilizer sector. We believe that with best technologies and project management practices, this project will fulfill our vision of growth, efficiency and building national self-sufficiency."
About Hindustan Urvarak & Rasayan Ltd
HURL is a joint venture Company formed in June 2016 by public sector companies - Coal India Ltd ("CIL"), NTPC Ltd ("NTPC"), and Indian Oil Corp. Ltd ("IOCL") as the lead promoters with Fertilizer Corp. of India Limited ("FCIL") and Hindustan Fertilizer Corp. Ltd ("HFCL") as other two partners. HURL was given the mandate from the Cabinet Committee on Economic Affairs (CCEA), Government of India, to revive three fertilizer plants in UP, two FCIL plants at Gorakhpur and Sindri and one HFCL's plant at Barauni.
HURL's primary objective is to establish and operate large-scale fertilizer complex with production capacity of 2,200 MTPD (metric tons per day) Ammonia, 3,850 MTPD of Urea including 1.27 MMTPA (million metric tons per annum) neem coated urea at each of the above three locations. These projects are part of Government of India's "Make in India" initiative with the aim of making India self-sufficient in the field of urea production
HURL's Gorakhpur plant
The FCIL's current Gorakhpur Fertilizer unit is located around 12 km from Gorakhpur town in the northern state of UP in India. The site is well connected by road, rail, and air. The Hon'ble Prime Minister of India Mr. Narendra Modi laid the foundation stone for the Gorakhpur Fertilizer Project on July 22, 2016.
Toyo's contract with HURL is to construct a large fertilizer manufacturing complex which will house a manufacturing plant with mandated production capacity and a utility supply facility. Toyo plans to use its proprietary urea synthesis technology "ACES 21®" and ammonia production technology from Kellogg Brown & Root LLC., USA at this facility. The plant is expected to be fully commissioned by December 2020.
About KBR Inc.
Houston, Texas-based KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. The Company has three main business segments: Government Services, Technology & Consulting, and Engineering & Construction. The Company provides technology, value-added services, integrated EPC delivery and long-term operations and maintenance services to its customers. The Company has customers in more than 80 countries, and operations in 40 countries and is supported by a team of 34,000 people worldwide.
Stock Performance Snapshot
March 29, 2018 - At Thursday's closing bell, KBR's stock climbed 3.58%, ending the trading session at $16.19.
Volume traded for the day: 1.92 million shares.
Stock performance in the last month – up 6.94%; and past twelve-month period – up 12.43%
After last Thursday's close, KBR's market cap was at $2.28 billion.
Price to Earnings (P/E) ratio was at 8.46.
The stock has a dividend yield of 1.98%.
The stock is part of the Services sector, categorized under the Technical Services industry. This sector was up 1.5% at the end of the session.
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