ABB Bags Three-Year Contract To Strengthen Asset Integrity Of Leading Downstream Operator


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Comserve Inc.

Oct 05, 2020, 09:40 EST


Bronx, United States, Oct 05, 2020, 09:40 /Comserve / -- Global engineering company, ABB announced on Wednesday (i.e. September 30, 2020) that it has been awarded a three-year collaborative project with MOL Group

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Billingham, United Kingdom, October 01, 2020: Global engineering company, ABB announced on Wednesday (i.e. September 30, 2020) that it has been awarded a three-year collaborative project with MOL Group to enhance Asset Integrity Management (AIM) across its four main chemical and refinery sites within Europe.

According to the contract, ABB would strengthen the quality of the assets across four downstream properties of MOL Group by adopting standardized guidelines including, changing mindset, standardizing procedures and software, and safeguarding integrity management to focus on the usage of correct equipment. Further, ABB would collaborate with Metegrity Visions to incorporate a common digital platform at the Slovnaft, Danube, INA chemical unit, and MOL Petrochemicals plants, to enhance technology and process data.

The new solution coupled with AIM procedure rolled out by ABB aims to help MOL Group to save around EUR 10 million per year across MOL’s downstream assets, by reducing unplanned outages, minimizing turnaround duration (TAR), and lowering maintenance costs. It also aims to ensure the safety of the colleagues and communities and increase the efficiency and transparency of MOL operations. The project is divided into three distinct phases with the primary goal of transferring knowledge and upskilling MOL’s employees to use the software for attaining self-sufficiency by 2023.

Headquartered in Zurich, ABB is a leading electrical and electronics manufacturing company that specializes in varied domains such as robotics, data centers, e-mobility, marine vessels, motors and generators, smart buildings, and renewable energy, among others. In its latest financial statement, ABB reported consolidated revenue of USD 12,370 million during H1 2020 as compared to the previous year’s revenue of the same period which was USD 14,018 million, a slight decline by (-) 12 % Y-o-Y.

Earlier in September, ABB invested CHF 40 million for the construction of an R&D facility to expand its presence in Switzerland. On August 04, 2020, the company announced the launch of an electric vehicle charger called Terra 184, which was installed all over Japan to upgrade the country’s electric vehicle infrastructure. Further, on July 29, 2020, ABB launched a new AI-based software to allow industries to optimize and streamline their business operations.

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