Lummus Novolen Technology selected as PP licensor for Anchor Benitoite project in Egypt
21-05-2021 08:37:00 | by: Pie Kamau | hits: 2159 | Tags:

Lummus Technology announced that its Novolen business has been selected as the PP licensor by Anchorage Investments for its Anchor Benitoite project in Suez, Egypt. Lummus' scope includes the technology license for a 590 KTA polypropylene unit as well as basic design engineering, training and services, catalyst supply and operator training simulator services.

"The Anchor Benitoite project will include a 590 KTA Novolen PP unit as the main derivative of the propylene produced within the complex," said Ahmed M. A. Moharram, Founder and Managing Director of Anchorage Investments. "The low investment and operating costs for Novolen technology based on its efficiency, combined with the process simplicity and the robustness of operation while offering a wide product slate, were the key drivers for our selection of the PP technology."

"We are thankful to Anchorage Investments for selecting Novolen's technology, which has solidified its place as the leading PP technology licensed over the past few years," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "The global PP market continues to show overall resilience to demand sensitivities and fluctuations in certain segments, and Novolen's PP technology offers the best solution because of its flexibility and ability to adapt to changing market conditions."

The Anchor Benitoite project will encompass production units producing several different petrochemical products and intermediates. Located near the Suez Canal, an area that provides distinctive advantages in terms of its geographical location, port connectivity and associated capital and operating costs, Anchor Benitoite is envisioned to be a gateway to petrochemical activity on regional and global scales, increasing Egypt's competitiveness and position as a petrochemical hub.