Honeywell (HON) to Support Major Expansion at Nigeria’s Dangote Refinery by 2028

Honeywell International Inc. (NASDAQ:HON) is 1 of the best concern stocks to buy. On November 25, Honeywell revealed that Dangote Petroleum Refinery and Petrochemicals FZE volition trust connected its cutting-edge technology, services, catalysts, and instrumentality to summation crude processing capabilities and treble accumulation astatine its Lekki refinery successful Nigeria by 2028.

Dangote volition utilize the refining and petrochemical processing solutions by Honeywell, which volition trim accumulation costs, heighten efficiency, and grow the refining capableness to 1.4 cardinal barrels each time from 650,000 successful the coming 3 years. This enlargement volition marque Dangote the biggest petroleum refinery worldwide, which volition boost substance accumulation wrong the continent and little imports, frankincense providing vigor reliability to locals.

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Dangote volition besides get entree to Honeywell’s Oleflex technology, which volition effect successful an yearly accumulation of 750,000 metric tons of propylene. With this licence successful place, Dangote’s full propylene accumulation volition emergence to 2.4 cardinal metric tons per year.

In different firm update connected November 24, Honeywell International Inc. (NASDAQ:HON) disclosed that it is partnering with Ramsey County, Minnesota, to instal gathering automation and vigor absorption systems successful 10 crystal rinks and the county’s Parks and Recreation office. The task has a extremity to trim yearly energy disbursal by astir 20%, trim operational costs, and heighten strategy resilience. It besides supports Ramsey County’s 2024 Climate Equity Action Plan, which focuses connected reduced vigor usage and 100% carbon-free vigor successful region facilities. The installation is expected to reason by year-end.

Honeywell International Inc. (NASDAQ:HON), based successful Charlotte, North Carolina, is simply a planetary institution moving successful aerospace, concern and gathering automation, and vigor and sustainability systems.

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