China firm wins $400 Sabic unit contract
Riyadh, November 14, 2012
Jubail Chemicals Storage and Services Company (JCSSC), a Sabic affiliate, has awarded EPC contracts for a new storage, handling and shipping terminal.
The contract for the terminal, at the King Fahd Industrial Port in Jubail, was won by China National Chemical Engineering Corporation (CNCEC).
The total investment in the project is estimated to be $400 million. The project will enable the continued growth of the petrochemical and downstream industries in Saudi Arabia, said a Sabic statement.
JCSSC is a joint venture in which Sabic holds 75 percent and Vopak 25 percent.
The plan is to finance the project from the parties’ own resources as well as through external funds. Once commissioned in early 2015, the storage capacity of the terminal will be approximately 250,000 cu m, the statement said.
The first phase will consist of around 40 commodity and specialty chemical storage tanks, complete with truck handling and ship loading facilities for five berths.
The investment in this industrial terminal will provide the petrochemical industry in Jubail with a critically important export facility, it said. – TradeArabia News Service
More Energy, Oil & Gas Stories
- GE Power Conversion wins major SEC order
- Basra Light crude exports to rebound in April
- Aramco to produce unconventional gas for projects
- Alstom opens smart grid centre in Dubai
- Experts discuss key geosciences issues
- Egypt to permit factories to use coal for energy
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn