Oil Egypt accountACCOUNT King Tut

DSI Signed EPCC Contract for TPC Project

Source: www.gulfoilandgas.com 5/13/2014, Location: Egypt

Share |
Drake & Scull International, a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, and Oil and Gas, has recently signed an agreement with Egypt-based company Carbon Holdings as part of the Tahrir Petrochemical Corporation (“TPC”) Project development located at the entrance of the Suez Canal in Ain Sokhna, Egypt.

Under the terms of the agreement DSI will exclusively join the international consortium of companies comprising Maire Tecnimont S.p.A., a leading world conglomerate in Engineering & Construction, Technology & Licensing and Energy and Ventures and Archirodon Group, a large diversified international contracting organization to collaboratively undertake the Engineering, Procurement, Construction and Commissioning (EPCC) activities related to the Utilities and Offsite Facilities of the project.

The scope of work for DSI will encompass the complete OSBL construction works and civil works, including storage facilities and ancillary buildings for an approximate contract value of AED 2.2 billion.

Egypt’s Carbon Holdings is aiming to commence construction of its $5bn-plus TPC Project in 2015.

TPC is seeking to secure in excess of $3.4bn of funding and loan guarantees from the Export-Import Bank of the United States, The Export-Import Bank of Korea, the Korea Insurance Corporation and the Italian Export Credit Agency, SACE. The megaproject which includes Egypt’s first naphtha cracker will create in excess of 20,000 jobs during the construction phase, Carbon Holdings said.

Once complete, the project will comprise a 4 million tonne-a-year (t/y) naphtha cracker and related downstream facilities with the capacity to produce 1.4 million t/y polyethylene, 900,000 t/y propylene, 250,000 t/y butadiene, 350,000 t/y benzene and 100,000 t/y hexene-1.

In December last year TPC signed the EPC contract for the ISBL with Linde and SK ENC.

Carbon Holdings anticipates the Project will be a driving force for other petrochemical and downstream projects in Egypt and could create up to 100,000 direct and indirect jobs in related industries.

Commenting on the award, Khaldoun Tabari, CEO of Drake & Scull International, said: “DSI is pleased to be part of this international consortium delivering this vital project which will transform Egypt’s petrochemical sector. Egypt is our key market in North Africa and the project will enable us to further strengthen our position in the country where we already have a significant presence across the Oil & Gas, Waste Water and Water treatment and Hospitality sectors.”

DSI continues to enhance and strengthen its services offering with unmatched vertical integration and global footprint. The collaborative capabilities of the Engineering services (MEP and Water and Power), General Contracting, Oil and Gas, Rail and Infrastructure development continue to deliver strong performance quality work on project sites across MENA, South Asia, and Europe.

Year to date the company was awarded a series of prestigious projects in the UAE, KSA, Kuwait, Algeria, India and Europe for a combined value of AED 1.68 billion. The Tahrir Petrochemical Complex deal takes the total value of DSI’s project awards portfolio to AED 3.88 billion as of May 2014 further cementing the company’s position as one of the leading multi-discipline construction experts in the region.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Egypt >>  1/11/2018 - The World Bank's Multilateral Investment Guarantee Agency (MIGA) announced that it will provide Egypt with $102.6 million in credit facilities to supp...
Egypt >>  1/11/2018 - ADES International Holding Ltd. (ADES), the London-listed company providing offshore and onshore oil and gas drilling and production services in the M...

Egypt >>  1/10/2018 - Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources received Mrs. Maria Moraeus Hanssen, CEO of the German company DEA and the accompanyi...
Egypt >>  1/10/2018 - TransGlobe Energy Corporation (TGL) (TGA) (“TransGlobe”) announces the 2018 capital budget and promotions. All dollar values are expressed in US dolla...

Egypt >>  1/8/2018 - The Minister of Petroleum and Mineral Resources, Tareq Al-Mulla, appoints Ali Fuad Badr as the Chairman of the Board of Directors of Amerya Petroleum ...
Egypt >>  12/28/2017 - Egypt is set to inaugurate a new wharf for natural gas and petroleum product tankers on the Gulf of Suez in the coming days, another step in its plan ...

Related Categories: Consultants  Design/construction/Engineering Graphics  Engineering  General  Production Engineering  Project & Resource Management  Training & Education 

Related Articles: Consultants  Design/construction/Engineering Graphics  Engineering  Production Engineering  Project & Resource Management  Training & Education 

More News

Oil & Gas Projects in Egypt >>

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us