Daewoo E&C Wins Ruwais Refinery Expansion Project Worth USD 1.17 Billion from UAE

abarrelfull wrote on 24 Sep 2012 13:41
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November 19, 2009

Abu Dhabi Oil Refining Company(Takreer) awarded Daewoo E&C for Ruwais Refinery Expansion Project Package 4, Tankage.

This project will be placed Ruwais Petrochemical Complex, about 250 kilometers west of Abu Dhabi to construct 76 storage tanks worth about USD 1.17 Billion. Daewoo E&C will be in charge of EPC- Engineering, Procurement, and Construction. The project will be carried out from this December to February, 2014.

Daewoo E&C already holds the world best experience and technology in terms of LNG/Oil Tank Farm facilities. EPC Project ability is already verified through lots of projects in Nigeria, Libya, Qatar, etc.

As Daewoo E&C advanced into UAE market successfully which has placed a number of projects recently, it could be the main market for the company following Libya, Nigeria, and Algeria.

Daewoo E&C has received orders worth about USD 2.67 Billion in this year, and expects additional USD 1.4 Billion overseas orders till the end of 2009. The company forecasts USD 4 billion overseas orders receivable only in this year.

The person related in Daewoo E&C said, &ldquoAlthough we are now under the M&A issues and other concerns around the company, this result shows our devotion for receiving orders.&rdquo

• Daewoo E&C Wins Ruwais Refinery Expansion Project Worth USD 1.17 Billion from UAE

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