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Financials

Italy's Saipem picked for work on urea plant in Australia

MILAN, July 1 (Reuters) - Italian energy services contractor Saipem said on Wednesday it had been picked by Perdaman Industries to help build a urea plant in Australia.

Saipem will do the Engineering, Procurement and Construction (EPC) work for the plant in a joint venture with Australia’s Clough, it said, without giving any financial details.

In a separate statement, Western Australia-based Perdaman said it would invest a total of $4.5 billion to develop the plant that will transform natural gas into urea.

Reporting by Stephen Jewkes

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