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98 [NEWS] Daewoo E&C Wins Ruwais Refinery Expansion Project Worth USD 1.17 Billion from UAE 2009-11-20
Daewoo E&C Wins Ruwais Refinery Expansion Project Worth USD 1.17 Billion from UAE
 
▶ Storage Facility Construction Order
▶ Daewoo E&C holds the world best experience and technology in terms of LNG/Oil storage facilities
▶ UAE, expected the new market for Daewoo E&C
 
On November 19, 2009, Abu Dhabi Oil Refining Company(Takreer) awarded Daewoo E&C for Ruwais Refinery Expansion Project Package 4, Tankage.
 
This project will be placed Ruwais Petrochemical Complex, about 250 kilometers west of Abu Dhabi to construct 76 storage tanks worth about USD 1.17 Billion. Daewoo E&C will be in charge of EPC- Engineering, Procurement, and Construction. The project will be carried out from this December to February, 2014.
 
Daewoo E&C already holds the world best experience and technology in terms of LNG/Oil Tank Farm facilities. EPC Project ability is already verified through lots of projects in Nigeria, Libya, Qatar, etc.
 
As Daewoo E&C advanced into UAE market successfully which has placed a number of projects recently, it could be the main market for the company following Libya, Nigeria, and Algeria.
 
Daewoo E&C has received orders worth about USD 2.67 Billion in this year, and expects additional USD 1.4 Billion overseas orders till the end of 2009. The company forecasts USD 4 billion overseas orders receivable only in this year.
 
The person related in Daewoo E&C said, &ldquoAlthough we are now under the M&A issues and other concerns around the company, this result shows our devotion for receiving orders.&rdquo
 
[Overview of Ruwais Refinery Expansion Project, Package 4 Tankgae]
 
1. Order placed by: Abu Dhabi Oil Refining Company  (Takreer)
 
2. Location: About 250 kilometers west of Abu Dhabi
 
3. Project Budget: USD 1.17 Billion (about KRW 1.3 trillion)
 
4. Project Period: December, 2009~ February, 2012 (about 50 months)
 
5. Project Overview: Tank Package
- Consists of 76 tanks and able to store 4,493,031 m3
2010 Business Plan
3Q. 2009 Business Result