Wison Engineering Awarded EPC Contract for EOEG in Saudi Arabia

SHANGHAI, June 27, 2016  Wison Engineering ("the Company", SEHK stock code: 2236), one of the leading chemical engineering, procurement and construction management ("EPC") service and technology providers in China, announces that the Company has won an EPC contract for an ethylene oxide and ethylene glycol ("EOEG") project in the Middle East recently.



According to the contract, Wison Engineering will be responsible for the expansion of the EOEG facilities and auxiliary units. The project is scheduled to be mechanically completed in Q3 of 2017. The project kick-off meeting has recently been held at the Shanghai Headquarter of Wison Engineering.

EOEG is one of the mainstream technologies being used in glycol production globally, and is also an important process of ethylene downstream industry. Wison is now providing EPC services for a 70kta oxalic acid and 10kta ethylene glycol project using tail gas of yellow phosphorus mining production as feedstock in Guizhou Province in China. The project adopts syngas to EG technology via oxalate, which is another mainstream technology in glycol production. The award of this EOEG contract will reinforce Wison's project execution capabilities in glycol facilities featuring different mainstream technologies, and further enhance the Company's competitiveness in the global petrochemical industry.

Internationalization is one of the key development strategies of Wison Engineering. At present, Wison has won a total of seven EPC contracts in the Middle East, among which 3 projects were successfully delivered. The Company is also working on the largest oil refinery project that was awarded to Chinese companies in South America. With remarkable overseas project track records, Wison is ranked among the top 100 Chinese engineering companies in terms of revenue from overseas projects in 2015.