04-07-2012

Linde Philippines signs long term contract with JG Summit Petrochemicals Corporation

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.