Wednesday, October 28, 2015

India - Essar Projects and Italy's Saipem win $ 1.6 bn EPC contract for refinery in Kuwait. Our Viewpoint: It is a big boost for the design capabilities of our Indian company in collaboration with an International partner

Our Viewpoint: It is a big boost for the design capabilities of our Indian company in collaboration with an International partner. We see a sizeable population of Indian Engineering professionals working in the EPC companies out of India. Kuwait is one of the oil rich nations that extensively utilize our engineering talent force. Our engineers have got good exposure in International standards and norms followed for EPC projects outside our country. They are known for following stringent quality measures in various stages of the project to achieve the maximum life cycle values. Now is the time to use the Non-resident Indian engineering knowledge pool for the success of collaborative venture.
Article Source:
Publication Date: 26 October 2015

Essar Projects, along with its joint venture partner Saipem SpA of Italy, has won a $ 1.57 billion EPC (engineering, procurement & construction) contract from Kuwait National Petroleum Company (KNPC) for setting up Al-Zour Refinery Project (ZOR), Package-4, in Kuwait. This is Essar’s biggest third-party order won in the region.

The New Refinery Project at Al Zour is Kuwait’s biggest development project with crude processing capacity of 615,000 barrels per day (bpd). KNPC has awarded four contracts for the refinery’s construction, worth over $ 13.2 billion to successful international bidders, making it the biggest contract signing for 2015.

Shiba Panda, managing director & CEO, Essar Projects, said, “The project marks Essar’s entry into the Kuwait project market with the biggest EPC contract by an external client. It also signals a quantum growth in our overseas business, showcasing our capability to collaborate with leading international EPC companies and our competitiveness in the face of tough global competition.”

Essar Projects has begun to mobilise resources for the project. Gianluca Mosca, COO -Overseas, Essar Projects, said, “With several large infrastructure and industrial projects being implemented in West Asia, it has become one of the fastest growing markets in the world today. Within a short span of time Essar Projects has carved a name for itself and bagged significant project wins in the region due to its inherent strengths in delivering large and complex projects.”

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