Takreer signs $9.6bn expansion contracts

For illustrative purposes only.

Abu Dhabi Oil Refinery Co, the state run company known as Takreer, signed contracts valued at $9.6 billion for work to expand its Ruwais plant, Emirates News Agency said.

The refiner signed two accords with SK Engineering & Construction Co and contracts with Samsung Engineering Co and Daewoo Engineering & Construction Co, the state news agency, known as WAM, reported.

Takreer plans to more than double output at the refinery from its capacity of about 400,000 barrels a day of crude oil and condensate. Ruwais is about 250 kilometers (155 miles) from Abu Dhabi city, in the largest sheikhdom in the UAE.

The Ruwais expansion will be completed by the end of 2013, WAM reported. Takreer also operates an 85,000 barrel a day refinery in the city of Abu Dhabi.

Advertisement

FEATURED COMMENT Please click here to comment on this article

Samsung Engineering, South Korea’s biggest engineering company, said on Nov 20 it won a $2.73 billion order for the UAE refinery and Daewoo Engineering said the same day it won a $1.17 billion order.

SK said on Nov 4 it won a $2.12 billion order for the expansion. Daewoo and SK forecast construction would be completed in early 2014.

GS Engineering & Construction Corp. said Nov 5 it won a $3.11 billion contract to build a residue fluid catalytic cracking unit in Ruwais.(Bloomberg)

---