KBR Secures Contract From India's Hindustan Petroleum

(RTTNews) - KBR, Inc. (KBR), an engineering solutions company, on Wednesday, said that it has received a contract from Hindustan Petroleum Corporation Limited (HPCL) to implement its supercritical solvent deasphalting (SDA) technology, ROSE at HPCL's Mumbai Refinery.

Financial terms of the deal have not been divulged.

KBR will provide technology licensing, basic engineering, training, start-up support and proprietary equipment to HPCL under the contract terms. 850 thousand tones per annum unit will be consolidated with HPCL's existing facility.

"This unit will help HPCL enhance refinery economics by upgrading fuel oil into more valuable products while lowering the overall carbon footprint.", said Doug Kelly, president of KBR in a statement.

In premarket activity on the New York Stock Exchange, KBR shares were trading at $58.28 down 0.83 percent.