National Iranian Oil Engineering Company (NIOEC) has invited contractors to submit bids by 3 October for the engineering, procurement and construction (EPC) contract covering the Shahazand Arak refinery expansion project. Prospective foreign bidders, which will team up with local contractors, include Hyundai Engineering & Construction Companyof South Korea, Canada's SNC Lavalin, Engineers India (EIL)and Toyo Engineeringand Chiyoda Corporation,both ofJapan(MEED 27:5:05).
Estimated to be worth $1,600 million, the contract will involve increasing capacity to 250,000 barrels a day (b/d) from 150,000 b/d. The 26-month contract will also entail the supply and installation of an 80,000-b/d crude distillation unit and a new 28,100-b/d merox unit, as well as hydrotreater units. Bidders are likely to be requested to team up with an offtaker for the product, with financing to be arranged on a buyback basis. Japan's JGC Corporationwith Tomen Corporation, also of Japan, has carried out the front-end engineering and design (FEED) package.
You might also like...
Global AI market to top $1tn in 2030
25 April 2024
Morocco tenders Noor Midelt 2
25 April 2024
Saudi Arabia's Roshn launches Aldanah Dhahran project
25 April 2024
Kuwait retenders revegetation contracts
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.