Heads Of Agreements With Zecon Berhad And Gulf Asian Petroleum Sdn Bhd

abarrelfull wrote on 27 Jul 2011 12:58
Tags: malaysia refinery

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KNM Group Berhad (“KNM”) is pleased to announce that on 25 July 2011, KNM and Zecon Berhad (“Zecon”) had entered into the following Heads of Agreements (“HOAs”) with Gulf Asian Petroleum Sdn Bhd (“GAP”) towards inter alia the following:-

1. to undertake the Engineering, Procurement, Construction and Commissioning (“EPC”) Contract for the 150,000/200,000 bpd Petroleum Refinery and 400,000/525,000 mtpa Polypropylene Unit for GAP (“the Refinery/Polypropylene Project”) with a total Project Value of USD5.0 billion (equivalent to about RM15.0 billion based on the exchange rate of USD1.00 : RM3.00); and
2. to undertake the Engineering, Procurement, # Construction and Commissioning (“EPC”) Contract for the Petroleum Product Storage Terminal Facility comprising 4 Terminals with a total storage capacity of 2.328 million cubic meters, complete with supporting infrastructure and auxiliaries including the jetty (“the Storage Project”) with a total Contract Value of RM2.0 billion.

• Both the Refinery/Polypropylene Project and Storage Project are located at Teluk Ramunia, Johor.

• Heads Of Agreements With Zecon Berhad And Gulf Asian Petroleum Sdn Bhd

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