TOYO & TOYO India jointly awarded contract in India for an NGL Extraction Plant from LNGMar. 15, 2006

Toyo Engineering Corporation (TOYO) has received, together with Toyo Engineering India Limited (TOYO India), TOYO's affiliated company in India, a lump-sum contract for the design, procurement of equipment & materials and construction of an NGL extraction plant from an LNG throughput of 5 million tons per year to be installed by Oil and Natural Gas Corporation (ONGC) at Dahej, State of Gujarat in the west coast of India.

This plant will recover ethane, propane and butanes (NGL) as petrochemical feedstock from LNG sourced supplied by Petronet LNG Limited who operates an LNG receiving terminal in the same area. The plant is scheduled for completion in the middle of 2008.

This is the first plant where TOYO's new NGL recovery process from LNG "COREFLUX™-LNG" will be applied to realize a high product recovery rate. Through close cooperation with TOYO India, established for 30-years and recognized as one of the top class engineering companies in India, TOYO is endeavoring to expand its business further in the Indian market where future investment is expected to increase.

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