Basic Engineering contract for a world scale ethylene cracker complex in Singapore awarded to TOYO/ABBNov. 24, 2005

A joint venture of Toyo Engineering Corporation (TOYO) and ABB Lummus Global B.V., Netherlands has been awarded the contract for a Basic Design and Engineering Package (BDEP) by Shell Eastern Petroleum (Pte) Ltd (SEPL), for a world scale ethylene cracker complex, to be located on Bukom, Singapore. Upon completion of the BDEP and following the final investment decision by SEPL, the contract will roll over from the BEDP phase into the Implementation (EPCm) Phase.

The ethylene cracker will be based on ABB Lummus Global proprietary ethylene cracking technology and will be integrated into Shell's existing refinery on Bukom Island. The plant is scheduled to begin operations in 2009, and will supply ethylene by pipeline to the EO/MEG plant that is to be located on Jurong Island, Singapore, a parallel development.

This latest award is the 2nd project for TOYO to work for Shell group of companies following Sakhalin LNG project and will contribute to a continuation of TOYO's steady relationship with Shell in future. TOYO will assure to provide his professional role for sustainable growth of client.

Over 30 years, Toyo Engineering Corporation and ABB Lummus Global have collaborated successfully in the realization of ethylene plants on a worldwide basis. By combining the resources and capabilities of the two companies, a strong partnership has been firmed for the successful realization of this world-scale ethylene cracker project.

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