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Essar Projects wins $ 1.57 b KNPC contract for Al-Zour refinery project in Kuwait | The Essar has won the award for the Al-Zour refinery project at Al-Zour, Kuwait’s
biggest development project. |
KUWAIT: The Essar Projects Limited, an Indian company, in a joint venture with
Italy’s Saipem, has won a contract worth USD 1.57 billion from the Kuwait National
Petroleum Company (KNPC) for setting up Al-Zour Refinery Project (ZOR),
Package-4, in the State of Kuwait.
The project at Al-Zour is Kuwait’s biggest development project with crude
processing capacity of 615,000 barrels per day (bpd). The KNPC has awarded four
contracts for the refinery’s construction, worth over USD13.2 billion to successful
International bidders, making it the biggest contract signing for 2015.
The contract signing ceremony was held on October 13 last in Kuwait and was
attended by Kuwaiti Minister of Oil, Chairman, Kuwait Petroleum Corporation (KPC)
and CEO, KNPC. Essar Projects Ltd. was represented by Shiba Panda (Managing
Director & CEO), Gianluca Mosca (COO-Overseas), Rajesh Gang (CFO-Overseas)
and B Ravishankar (Head-Business Development, Kuwait).
The scope for the KNPC contract includes engineering, procurement, construction,
pre-commissioning and assistance during commissioning, startup and performance
testing, in relation to Package-4 – Tank Farms for the of the Al-Zour Refinery
Project (ZOR). Essar’s portion comprises build-out of tankages, roads and bridges,
as well as civil work, on an EPC basis. The project is expected to be completed by
2019.
November 4, 2015
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