The freight-rate-reducing measure is an industry first.
Wood will provide EPC services to a proposed world-class ethylene project along the US Gulf Coast.
The company will supply compact heat exchangers to a US petrochemical plant.
More Petrochemicals news
The majority of capital will be directed towards the company’s Heartland Petrochemical Complex, alongside NGL processing and storage.
The transaction sees the business, workforce and production facilities transferring to INEOS Enterprises, where it will trade as INEOS Joliet
Hanwha Total Petrochemical has invested nearly US$500 million to expand its Daesan integrated refining and petrochemical complex.