The CEO of industrial gas major Air Products has talked about the dynamics and challenges that attach to specialist industrial engineering and construction today, in a context where technology companies are building out data centres faster than ever before, which has increased competition for EPC delivery and pushed up prices.
On an earnings call where the question of whether the company will proceed with its Louisiana blue hydrogen project was discussed in detail, with a call due by the year-end, CEO Eduardo Menezes said the wider context for the entire chemicals industry was important to understand.
“My main concern on [the Louisiana project [is] the capital estimate,” he said.
“We have all the major equipment done. We have all the engineering done. But we still need to do the construction. And the construction market in the US is very hard at this point.”
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