The project is part of the plans for the development of Duqm’s special economic zone.
The Diplomat. 05/08/2017
Técnicas Reunidas, in consortium with Korean Daewoo Engineering and Construction, has been awarded a contract for the execution of the process units of the Duqm refinery (Oman). According to the information provided by the company to the National Securities Market Commission (CNMV, by its acronimous in spanish), the contract amounts to 2.75 billion dollars (2,340.3 million euros).
The contract, which will last 47 months, has been awarded, under the ‘turn key’ modality, to the consortium made up of Spanish engineering and the Korean group. Includes engineering, procurement, construction and commissioning of refining units.
The project is part of the Omani government’s plans for the development of Duqm’s special economic zone, which includes the construction of a ‘grassroot’ refinery, in which is expected to invest up to 15 billion dollars over the next 15 years (about 12,767.7 million euros), that will be used to develop infrastructures within and around the port to build one of the largest industrial zones of this type in the Middle East, with the refinery being the key to the development of this industrial area.
This project is the largest of the three that make up the construction of the new refinery and includes every process units and will be developed mostly in the offices of Técnicas Reunidas in Madrid, which in addition to being the leader of the ‘joint venture’ Is the majority shareholder with 65%.