Advertise Here [728 W x 90 H pixels]
Construction : Around the world | November 2015 | Source : Equipment India

Essar Projects-Saipem JV bags KNPC contract

Essar Projects said its joint venture with Italy´s Saipem SpA has won a $1.57 billion order from Kuwait National Petroleum Company (KNPC) for setting up Al-Zour Refinery Project (ZOR), Package-4, in the State of Kuwait. This is Essar´s biggest third-party order won in the region.

The new refinery project at Al Zour is Kuwait-´s biggest development project with crude processing capacity of 615,000 barrels per day (bpd). KNPC has awarded four contracts for the refinery-´s construction, worth over $13.2 billion to successful international bidders, making it the biggest contract signing for 2015. The gala contract signing ceremony was attended by Kuwait´s Minister of Oil, Kuwait Petroleum Corporation (KPC) Chairman and KNPC CEO. Essar Projects was represented by Shiba Panda, Managing Director and CEO, Gianluca Mosca, COO-Overseas, Rajesh Gang, CFO-Overseas, and B Ravishankar, Head-Business Development, Kuwait.

The scope for the KNPC contract includes engineering, procurement, construction, pre-commissioning and assistance during commissioning, startup and performance testing, in relation to Package-4 - Tank Farms for the of the Al-Zour Refinery Project (ZOR). Essar-´s portion comprises build-out of tankages, roads and bridges, as well as civil work, on an EPC basis. The project is expected to be completed by 2019.

 
Advertise Here [728 W x 90 H pixels]