The transaction means that SIDPEC, already a leader in the production of polyethylene in Egypt, will soon produce value-added polypropylene products for its customers using the most up-to-date technology available.
Adoption of the merger agreement and plan and issuance of MPC common stock have been approved at separate stockholder meetings.
KBR has been awarded technology license, basic engineering design services and proprietary catalyst supply contracts by Lihuayi Lijin Refining & Chemical Co. Ltd.