Osos set to retender $1bn Yanbu plant

30 May 2008
The local Osos Petrochemicals is to retender its estimated $1bn polybutylene terephthalate complex at Yanbu, after bids for the original tender came in over budget.

Commercial bids from four inter-national groups were submitted earlier this year for the main engineering, procurement and construction (EPC) contract (MEED 16:1:08).

Contractors have now been asked whether they are interested in bidding for a retendered contract. Osos hopes to award the contract by the end of 2008.

The original bidding contractors were Oslo-based Aker Kvaerner with China’s Sinopec, and GS Engineering & Construction, Samsung Engineering Company and Hanwha Engineering & Construction, all of South Korea. Most of the firms are understood to be interested in the retender.

To keep costs down, Osos is understood to have modified the scope of the project, including a change of output from some of the process units.

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.

Get Notifications