GE and Toyo sign MOU exploring digital solutions in petchem industry
General Electric Company and Toyo Engineering Corporation signed a memorandum of understanding for a joint project to explore digital solutions for the fertilizer and petrochemicals industry.
Under the MOU, GE and Toyo will jointly work to evaluate, define and confirm the technical and economic feasibility of the deploying of GE Predix, a unique cloud-based platform built for industry, and Asset Performance Management (APM) software, to implement specific solutions for pre-FEED, FEED, EPC, commissioning, operation and maintenance phases of fertilizer and petrochemicals facilities.
“GE has a strong track record in providing asset reliability solutions across the Oil & Gas segments around the world, through advanced sensors, combination of data driven and physic based analytics, and troubleshooting expertise,” the company said in a press release. “Toyo brings its complementary expertise on processes and plant operations as EPC contractor of fertilizer and petrochemicals plants and as Licensor of Urea synthesis and granulation technologies.”
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