Three international contractors - Oslo-based Aker Kvaerner, Fluor Corporation of the US and Germany's Lurgi- are understood to have priced in December the estimated $250 million-350 million package covering the construction of a 460,000-tonne-a-year (t/y) acetic acid, 50,000-t/y acetic anhydride and 300,000-t/y vinyl acetic VAM units.

The contract will be awarded on a cost reimbursible basis and converted into a lump-sum turnkey (LSTK) contract at a later stage. Site preparation for the complex is already well under way, with full project completion scheduled for late summer 2008 (MEED 12:8:05).

Commercial bids are now due on 16 January for the 265,000-t/y CO unit and U&O package following an upward revision to the scope of work. Three international contractors -Germany's Linde, as well as Lurgi and AkerKvaerner - submitted in September technical proposals for the estimated $175 million-250 million engineering, procurement and construction (EPC) contract.

The scheme is being developed by a JV of Sipchem and the local National Power Company (NPC- MEED 11:11:05).

Banks submitted bids in December for the $500 million financing package. Mandated lead arrangers are expected to be appointed by the end of January.