Koreans take coke plant civils

12 May 2006

South Korea's Human & Technology Company has been awarded the KD 20.1 million ($69 million) civil works package on the coke calcination plant project in the Shuaiba industrial area, planned by the local Petroleum Coke Industries Company (PCIC). The contract duration is one year, with a further year of maintenance (MEED 17:2:06).

The scope of works on the construction contract covers the plant's civil, mechanical, electrical and piping elements, including its superstructure, with the client responsible for procurement. FFE Minerals India, a subsidiary of Denmark's FL Smidth, is carrying out the engineering portion and will also supply and install the calcining equipment, incinerators and technology, in addition to providing project supervision for the civil and electro-mechanical work (MEED 21:10:05).

The estimated $130 million coke calcination plant is being developed by PCIC under its 20-year build-own-operate-transfer (BOOT) concession to develop the 350,000-tonne-a-year facility.

Green coke feedstock for the plant will be supplied by state refinery operator Kuwait National Petroleum Company (KNPC), while the project will be financed through a combination of debt and equity, with the debt being covered by a KD 20 million ($70 million) commercial loan extended by Industrial Bank of Kuwait.

The local Global Investment House is financial adviser (MEED 12:11:04).


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