Chinese negotiate for condensates plant
A Chinese-led consortium is negotiating an open-book contract to build the Bandar Abbas condensates refinery. The National Iranian Oil Refining & Distribution Company (NIORDC) project is estimated to be worth more than $2,000 million (MEED 13:10:06).China Huanqiu Contracting & Engineering Corporation, a subsidiary of China National Petroleum Corporation, has teamed up with Technip Italy and the local Sadid Group to build the refinery. The consortium submitted a low bid with a lump-sum services portion of about Eur 165 million ($219 million) and an open-book mark-up of 4 per cent.Other bidders included the UK's Petrofac with the local Namvaran Consult, Italy's Snamprogetti with Tehran Jonoob and Bina, both local, China's Sinopec with the local Petrochemical Industries Design & Engineering Company and Italy's Tecnimont with Nargan and Sazeh, both local.NIORDC is aiming to award the contract by the end of the year, allowing the refinery to come on stream in 2010, the last year of the present five-year development plan. The refinery will have capacity to produce some 360,000 barrels a day (b/d) of condensates, making it one of the largest in Iran. Two other greenfield refineries are also being planned by NIORDC to produce petrol, which now has to be imported. They will be situated in Khouzestan province.
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