First deal for local/Pakistan joint venture in the Kingdom
Saudi Arabia’s OlayanDecson has won an estimated $50m-plus deal to build chemical storage facilities at the Jubail Industrial Port in Saudi Arabia.
The 18-month design, engineering, procurement and construction (EPC) deal covers the building of a 36,000-cubic-metre storage facility approximately 1.5 kilometres from the terminal berth. The facility will be used for storing a variety of chemicals before export or import from the industrial port.
A letter of intent has been received from the client Arabian Chemical Terminal Company, which is the bulk liquid chemical storage and handling arm of the local Saudi Brothers’ Commercial Company.
The signing ceremony is not expected before the end of April, says Muhammad Naveed, business development manager at OlayanDescon.
OlayanDescon is a joint venture of Saudi Arabia’s Olayan Saudi Holding Company and Pakistan’s Descon Engineering. Although established in 1981, this is the contractor’s first EPC deal in the kingdom.
Jubail Industrial City and its related port, located in the eastern province, 100km from Dammam, is one of the biggest planned zones for oil, gas and petrochemical production, processing and distribution in the Middle East and north Africa region.
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