- Awarded contracts for the refinery were worth a total of $11.5bn
- Official signing and award ceremony is due to take place in October or November
- Package four is still yet to be awarded
Middle East Contract Awards July 2015
Package one consists of a process plant and was awarded to the low-bidder, a joint venture of Technicas Reunidas (Spain), Sinopec Engineering (China), and Hanwha E&C (South Korea). It submitted a price of KD1,283bn.
Package two, which consists of a process plant, and package three, which consists of offsites and utilities were both won by a joint venture of Fluor (US), Hyundai Heavy Industries(South Korea), and Daewoo Engineering (South Korea).
These contracts were worth a total of KD1,745m.
The contract was worth KD454m.
Package four is the only remaining contract yet to be awarded. KNPC retendered package four in May in an attempt to cut costs and secure a lower price, but the retender produced a low bid that was KD68m more than the original low bid of KD407m.
The second biggest deal was for the supply of power to the chemicals complex in Jubail Industrial City in the Eastern Province of the kingdom.
- Saudi Electricity Company (SEC) will provide power for Sadara chemicals complex at Jubail Industrial City II
- Renewable agreement is for a term of 20 years
Saudi Arabias Sadara Chemical Company signed the SR14.13bn ($3.77bn) contract with state utility SEC.
The contract will have a 20-year term, which will be renewable at a later date.
Under the terms of the contract, SEC will provide power that will be used for the chemical complex at the Jubail Industrial City II.
Sadara, a $20bn 50:50 joint venture of Saudi Aramco and the US Dow Chemical, will start the commissioning of its first units in 2015. The complex is the largest single-phase petrochemicals plant ever built, and will have 26 process plants producing more than 3 million tonnes a year of products.
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