Project developer for petrochemical industrial plants

Essen, 2013-08-07

Ferrostaal and Saturn Project Development LLC: joint venture in the USA develops large projects

The globally active project developer Ferrostaal Industrial Projects (Essen, Germany) and the American project developer Saturn Project Development LLC (Houston, Texas, USA) have founded a joint venture company known as Saturn Ferrostaal Gas Chemicals LLC (SFSGC). The objective of the joint venture is to develop petrochemical industrial plants, primarily on the basis of natural gas in North America (USA, Canada and Mexico).

As project developer, SFSGC covers all stages in the development of petrochemical industrial facilities, from the feasibility study, securing the allocation of raw materials, to financial close. Its range of services also includes capital investments in project development companies, as well as engineering and procurement packages.

“With the joint venture, Ferrostaal is entering the North American market for petrochemical projects. Right at the outset we already have an attractive project list in the USA. We pursue large projects with a value of approximately USD 1 billion and which involve processing natural gas into petrochemical products such as methanol, ammonia or fertilizer. Ferrostaal has decades of experience in this market sector and boasts numerous reference projects. With Saturn Project Development, we are supplementing our expertise, primarily in the field of applications such as methanol into gasoline, as well as through an extensive sales network in the North American market,” explained Dr. Klaus Lesker, Managing Director of Ferrostaal Industrial Projects GmbH.

“Entering into this new joint venture combines Saturn Project Development’s considerable project development experience with Ferrostaal's extensive EPC history; Saturn Ferrostaal Gas Chemicals represents the coming together of two globally recognized groups into one highly capable team,” said Deo van Wijk, CEO of Saturn Project Development LLC.
Saturn Ferrostaal Gas Chemicals LLC will start operations in August 2013. The company will be based in Houston, USA. Each contracting party has a 50% stake in the joint venture.

About Saturn Project Development LLC
Saturn Project Development LLC is a chemical project development company concentrating on natural gas-fed plants. The company’s top management of Deo van Wijk and Scott Charpentier has previously developed successful projects in Trinidad; more recent successes include the refurbishment of Eastman's mothballed methanol and ammonia plant in Beaumont, Texas. Saturn Project Development focuses its extensive knowledge and experience on North America and its increasingly attractive natural gas position. As methanol and ammonia plant owners are drawn to North America they are coming to understand that a proven track record is key to the quick development of a reliable, low cost plant. The company brings a unique perspective with its seasoned team of commercial, engineering and project staff; the team can save even the largest of companies time and money because of its know-how in the development, construction and start-up of previous plants.

About Ferrostaal

Ferrostaal is a technology-independent, multi-vendor and supplier-independent provider of industrial services with operations worldwide. As a project developer, the company is active in the areas of petrochemicals, wind power, lighting solutions, air technology, oil & gas as well as select industies. As a service and sales partner to international manufacturers, the company deals in machinery and equipment for recycling, packaging, rail transport, laboratory technology and printing, as well as with pipes and piping accessories. In the automotive field, Ferrostaal develops tailor-made processes and operates entire module assemblies for international automobile manufacturers and suppliers. Some 3,600 employees combine decades of industrial expertise with financing competence on behalf of the customers. Ferrostaal has own companies in around 40 countries.


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