KBR Secures Ammonia Contract For HURL Project In India
Zacks Investment Research | Mar 28, 2018 10:17PM ET
KBR, Inc. (NYSE:KBR) secured an ammonia plant contract with Toyo Engineering Corporation (TOYO) for the Hindustan Urvarak and Rasayan Ltd (HURL) greenfield urea project situated in Gorakhpur, India. The company will deliver licensing and basic engineering design services under the contract.
HURL is a joint venture of three of the most influential public sector companies in India —Coal India Limited, NTPC Limited and Indian Oil Corporation Limited. The Gorakhpur-based plant targets national self-sufficiency in urea production for India.
KBR is an established leader in ammonia technology. Earlier this month, KBR clinched a contract from PT Panca Amara Utama to offer Ammonia InSite Technology to PAU's new ammonia plant complex located at Sulawesi, Indonesia. The company also won a new contract in January to provide its premium patented catalyst and equipment, technology licensing and basic engineering design services for the new ammonia plant of Indorama, located at the Port Harcourt site of Nigeria.
KBR’s other segments are witnessing good momentum as well. Last week, the company’s Government Services business clinched a $34.1-million task order from the U.S. Air Force. KBRwyle also secured a $69.3-million indefinite-delivery/indefinite-quantity contract from the Naval Air Warfare Center Aircraft Division to offer engineering and technical services for the installation and maintenance of the Light Airborne Multipurpose System MK III Datalink.
KBR’s Government Services business is expanding steadily, driven by organic growth and expansion of task orders on existing U.S. Government contracts. Growth on existing program management projects in the U.K is also supplementing revenue growth.
Further, this Zacks Rank #3 (Hold) company is optimistic about growth across key markets like the United States, the U.K. and Australia, driven by consistent opportunities across the lifecycle of projects. In the past year, the stock has returned 7.5% against the Zacks Investment Research
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