Jan. 4, 2012

Toyo Engineering Corporation (TOYO, President and CEO Yutaka Yamada), in consortium with Brazilian UTC Engenharia S.A. and Construtora Norberto Odebrecht S.A., has been awarded a contract from Petroleo Brasileiro S.A. (PETROBRAS) for the construction of utility facilities to be installed in the Complexo Petroquimica Rio de Janeiro (COMPERJ) now under construction in Itaborai, Rio de Janeiro, Brazil. TOYO consortium’s scope of work is for detailed design, procurement and construction (EPC) on a lump sum contract. The project is scheduled to be completed in 2014.

This project is regarded as prime importance by PETROBRAS who will utilize heavy oil produced in local oil fields as feedstock for increasing domestic demand for light oil and petrochemical products. TOYO’s project experiences for PETROBRAS exerted in technical capability, performance and cooperation with local partners have led to customer confidence and resulted in obtaining the contract. In addition, the water treatment facilities included in this project will be the largest ever for TOYO, and is expected to provide the boost to the expansion of TOYO’s focus on infrastructure business.

TOYO has been awarded numerous energy-related large projects by PETROBRAS since the Fluidized Catalytic Cracking (FCC) contracted in 1996, including gas processing facilities, pipelines, heavy oil upgrading facilities, oil refinery modernization projects, and Floating Production, Storage and Offloading (FPSO) systems and expects to continue to be successful in the onshore and offshore projects announced by Petrobras as its Business Investment Strategic Plan.

Project Summary

Client Petroleo Brasileiro S.A. (PETROBRAS)
Contractor Consortium of Toyo Engineering Corporation, UTC Engenharia S.A. and
Construtora Norberto Odebrecht S.A.
Site Complexo Petroquimico Rio de Janeiro (COMPERJ)
Itaborai, Rio de Janeiro (suburbs of Rio de Janeiro)
Units - Raw water treatment facility (Capacity: 2,000 m3/hr)
- Waste water treatment facility (Capacity: 750 m3/hr)
- Power and steam supply facility (Power: 260 MW, Steam: 1,000 ton/hr)
Scope Turnkey contract for detailed design, procurement of equipment and
materials and construction as well as commissioning support
Completion Scheduled in 2014
Contract amount Approx. JPY180 billion

[Outline of Complexo Petroquimica Rio de Janeiro (COMPERJ)]
This is a construction project of a large-scale petrochemical complex implemented by PETROBRAS in Itaborai, about 45 km from Rio de Janeiro., which is to produce light oil and petrochemical products using oil produced in local oil fields. The project is for the construction of the oil refinery of 2 trains of 165,000 BOPD each and petrochemical product manufacturing facilities including polyolefin and aromatics. Construction work of atmospheric distillation and vacuum distillation facilities for the oil refinery at the site is already under way and will become operational sequentially from 2014. It is regarded as a significant project in the Growth Acceleration Program (PAC) of Brazil and is expected to create more than 200,000 new jobs.

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