Dayim Punj Lloyd Wins $247 Million Construction Contract for Port Tank Farm at Jubail Export Refinery

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Researched by Industrial Info Resources (Sugar Land, Texas)--Dayim Punj Lloyd Construction Contracting Company Limited (DPL) (Riyadh, Saudi Arabia) has secured an engineering, procurement and construction (EPC) contract worth $247 million from Saudi Aramco Total Refinery & Petrochemical Company (SATORP) to set up a port tank farm for the Jubail export refinery in Saudi Arabia. SATORP is a joint venture established by Total SA (NYSE:TOT) (Paris, France) and Saudi Arabian Oil Company (Saudi Aramco) (Dhahran, Saudi Arabia).

Under the contract, DPL will carry out the entire range of EPC activities for the port tank farm, slated to come up at the second Jubail Industrial City, which boasts excellent infrastructure facilities such as power and water grids, residential areas, and the King Fahad industrial port. The second industrial city is located in the eastern part of the country, about 3 kilometers west of the first Jubail Industrial City. Apart from the tank farm itself, the facility will comprise other associated infrastructure such as transportation pipelines, sewer and air systems, diesel generator units, and vapor recovery systems. In addition, buildings and loading equipment required for dock operations will also be set up as part of the agreement.

The proposed farm is expected to be a vital component of the full-conversion refinery, which has the capacity to process 400,000 barrels per day of Arabian heavy crude oil. The refinery's product line comprises fuel variants such as jet fuel, gasoline, diesel and fuel oil, in addition to liquid sulfur and other aromatic intermediate products including 700,000 tons per year of paraxylene, 140,000 tons per year of benzene, and 200,000 tons per year of polymer-grade propylene that are used in several downstream sectors. The products cater to both the domestic and overseas markets.

DPL was established in 2006 as a joint venture between Prince Khalid bin Bandar bin, Sultan of Saudi Arabia and the multinational construction major, Punj Lloyd Limited (BSE:532693) (New Delhi). DPL, registered in Saudi Arabia, is primarily involved in providing EPC services for projects related to the chemical, hydrocarbon, and oil and gas sectors, apart from being involved in infrastructure development activities. The operations of the joint venture company are managed by Dayim Holdings (Riyadh), which enjoys a prominent local presence in the construction, real estate, and financial services sectors. Punj Lloyd, with a stake of 49% in the venture, brings with it the expertise and experience of having executed several EPC ventures both in India and abroad. The firm has a strong local footprint, global expertise, and cross-cultural multi-talented staff and management, all of which would benefit the project. With this contract, Punj Lloyd has orders worth $5.03 billion in the pipeline, including unexecuted as well as new orders.

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