KBR, Inc. (NYSE: KBR) disclosed that it has secured contracts for overhauling two ammonia plants by PJSC Acron Group, Novgorod, Russia. KBR will provide the process technology license, basic engineering design package, and patented equipment for the ammonia plants to boost manufacturing capacity by over 30% to 2300 MTPD each. The new plants were licensed in the 1970s.

Furthermore, the overhauling steps will consist of KBR's KRES™ technology, KBR's Horizontal Ammonia Converter, and other sophisticated features that allow KBR to boost output and total energy efficiency as well as decrease greenhouse gas emissions per ton of ammonia. The execution of the first overhaul project including putting it into operation and start-up is anticipated in 2023.

Around 50% of certified global ammonia capacity utilizes the ammonia technology of KBR. Since the 1960s, KBR has overhauled 200 ammonia plants and also registered, planned, or built 244 grassroots ammonia plants all around the globe. Shares of KBR Inc went down 2.99 % as it lost -0.96 during the trading session of Tuesday.