A hefty contract worth more than 350 million Over its lifetime helped support Outotec’s (OMX:OTE1V) stock on another volatile day The order comes from second largest titanium dioxide producer in the world Cristal Global. Outotec will design and deliver technology and services for a new ilmenite smelting facility to be built in Jazan Economic city. This turnkey contract also includes installation and construction of the plant.
The order goes to Q2 2012 order books and is expected to provide revenues gradually over a three year period. The plant should be operational in 2014 and the contract includes additional services for two-years following completion. In this plant Ilmenite is processed into titanium dioxide slag with an annual capacity of 500 000 tonnes It will also produce 235 000 tonnes of high purity pig iron as a co-product.
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