- Worley (WOR) has been awarded a contract by the largest chemical producer in the world, BASF SE, for its European battery material investment project
- The project is to build a plant that will create precursor battery material for the European electric vehicle market
- The plant will be powered by electricity from renewable energy sources such as hydro, wind and biomass
- Under the contract, Worley will provide engineering, procurement and construction management services
- On market close, Worley is down 0.90 per cent and is trading for $8.83 per share
Worley (WOR) has been awarded a contract by the largest chemical producer in the world, BASF SE, for its European battery material investment project in Finland.
The project is to build a plant that will create precursor battery material for the European market. The plant will be powered by electricity from renewable energy sources such as hydro, wind and biomass.
Under the contract, Worley will provide engineering, procurement and construction management services.
The plant will produce battery material for the fast-growing electric vehicle market.
“As a global professional services company headquartered in Australia, we are pleased to continue supporting BASF in the European battery production market,” CEO Chris Ashton said.
“We help our customers adapt to the world’s changing energy needs and achieve their renewable energy goals, so this is a strategically significant project for Worley,” he added.
On market close, Worley is down 0.90 per cent and is trading for $8.83 per share