Rolls-Royce wins 75m dollar contract in China

Global power systems company Rolls-Royce has secured a 75m dollar contract to supply PetroChina with equipment and related services to power the flow of natural gas through the world's longest pipeline.

Global power systems company Rolls-Royce has secured a 75m dollar contract to supply PetroChina with equipment and related services to power the flow of natural gas through the world's longest pipeline.

Rolls-Royce will supply PetroChina with an additional six RB211-driven pipeline compressor units, bringing the total number of RB211 units sold for

installation on China and Central Asia's vast natural gas pipeline network to 56.

When completed in 2015, the 7,000km pipeline will link China's western Xinjiang autonomous region to Fuijan province in the south-east, transporting up to 30bn cubic meters of gas per year.

Rolls-Royce, which has provided equipment to PetroChina's West East Pipe Line Project since 2004, will manufacture and package the equipment at its energy facilities in Montreal, Quebec, Canada and Mount Vernon, Ohio, US.

Andrew Heath, Rolls-Royce, President of Energy said: "Rolls-Royce has a strong track record of delivering reliable technology and services to underpin China's growing energy infrastructure. We are delighted to extend our role in the West-East Pipeline Project which uses cleaner, greener energy to boost China's economic growth and ensure greater security of electricity supply to China's fast-developing cities."

Saudi Arabian contractIn a separate statement, Rolls-Royce said that it has signed a four-year contract to provide support for engines powering the Royal Saudi Air Force fleet of Tornado combat aircraft.

"We are delighted to have concluded this agreement which will provide the Royal Saudi Air Force with support for its fleet of RB199 engines over the next four years," said Nick Durham, the President of Rolls-Royce's Defence Customer Business.

"The Air Force is a longstanding and valued customer and we will continue to work together to provide the best possible support for its expanding Rolls-Royce engine fleet."

MF

Recommended

Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021
What the best-performing investment trusts of the past 20 years can teach us
Investment trusts

What the best-performing investment trusts of the past 20 years can teach us

Forty-two trusts have risen more than tenfold over the last two decades. What made the winners stand out? And how can we identify future outperformers…
12 Oct 2021
Activision Blizzard: a cheap play on videogames
Share tips

Activision Blizzard: a cheap play on videogames

Videogame maker Activision Blizzard has been in the news for the wrong reasons lately. But it has a bright future, says Stephen Connolly.
11 Oct 2021

Most Popular

How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
Inflation is still one of the biggest threats to your personal finances
Investment strategy

Inflation is still one of the biggest threats to your personal finances

Central bankers and economists insist inflation will be gone by next year. We're not so sure, says Merryn Somerset Webb. So if you haven’t started to …
1 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021