Qatar Petroleum to delay $5bn refinery bid
Doha, December 23, 2008
Qatar Petroleum (QP) is set to delay the tendering of key contracts on its proposed QR billion ($5 billion) Al Shaheen refinery by up to six months as part of a review of engineering, procurement and construction (EPC) prices.
The company has notified the prequalified contractors not to proceed with technical bids as the refinery has now been postponed.
The bidders have been told to expect a delay of about six months before they receive a new bid date.
The deadline for technical bids had previously been delayed by two months and, in October, the deadline for commercial bids was put back to March 31, 2009 from the original date of January 21.
The latest delay follows confirmation that the Honam petrochemicals complex at Mesaieed will be delayed for six to 12 months while the project is reviewed, in light of current market conditions.
The scheme is being developed by a joint venture of South Korea's Honam Petrochemical Corporation and Qatar Intermediate Industries Holdings Company, a subsidiary of QP.-TradeArabia News Service