03 March 2019
The National Petrochemical Industrial Co. (NATPET) announced that on 28 February 2019 company has signed a contract with a subsidiary of Maire Tecnimont SpA to provide engineering, procurement, and construction services (EPC) to restore the damaged units in its Polypropylene plant as results of fire incidents that broke out in early October 2018.
The contract includes determining the responsibility of Tecnimont Arabia Co. for designing, engineering, procurement services, material supply, construction supervision and plant start up. The contract is cost-plus, and expected value around USD 65 million.
The projected execution schedule is about 7 months, observing some of the activities such engineering services have started earlier. We expect plant startup to be during the first half of October 2019 in line with the schedule and company plan,
The contract has received the endorsement from NATPET lenders’ and the Insurance company.
For information, contact:
Mr. Ghaith Al Mufti