The local Petro Steel has won a major contract, worth $62m, to erect storage tanks at the multi-billion-dollar Saudi Kayan Petrochemical Company complex in Jubail.
Under the terms of the engineering, procurement, fabrication and erection contract, PetroSteel will install 24 steel storage tanks at the complex.
Last summer the local/Indian Dayim Punj Lloyd Construction Contracting Company won a similar-sized contract to build storage tanks at the site (MEED 31:8:07).
With an overall cost of about $8bn, the Saudi Kayan is thought to be the largest standalone petrochemical complex ever built in one go.
Petro Steel is a 50:50 joint venture of the local Rafid Group and Singapore’s Rotary Engineering.
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