Paris-based Technip, which is negotiating to take over the Kharg natural gas liquids (NGL) contract originally won by Japan's JGC Corporation, is likely to bring in a new Japanese contractor to join the consortium. The move would ensure that the consortium would be able to secure Japan Bank for International Co-operation (JBIC) financing through Japan's Mitsui & Company, which was arranging the finance for the original consortium (MEED 5:11:04).
If all goes according to schedule, an engineering, procurement and construction (EPC) contract for the much-delayed project could be signed as early as January 2005, with financial close following soon afterwards. Technip's other prospective partners in the consortium vacated by JGC are: South Korea's Daelim Industrial Companyand Iran Marine Industries Company (Sadra) and Sazeh Consult, both local. The client, Iran Offshore Oil Company (IOOC), entered detailed negotiations with Technip in October to award it the $1,260 million contract, won by the original consortium last winter. The Paris-based company is building an ethane cracker on Kharg island, for which the NGL plant will provide feedstock.
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