South Korean companies are competing to implement the Al-Zour Petrochemical Complex project in Kuwait, whose investments are estimated at about $10 billion.
In this context, the South Korean government sent a team to support its companies winning contracts to build the huge petrochemical complex in Kuwait, according to data seen by the specialized energy platform.
The Ministry of Land, Infrastructure and Transport said today, Wednesday, March 1, that it had sent a team led by its second deputy minister, Oh Myung Soo, to Kuwait, in order to support Korean companies to win the Al-Zour petrochemical complex project.
Petrochemical complex
Hyundai Engineering & Construction, Daewoo Engineering & Construction and SK Ecoplant are seeking to win the $10 billion Al-Zour petrochemical complex project.
During his visit to Kuwait, “O” is scheduled to meet with Minister of Public Works Amani Bukmaz, and CEO of the Kuwait National Petroleum Company Walid Al-Badr; To support South Korean companies in winning contracts to build factories in Kuwait, the Korean news agency Yonhap reported.
Or is scheduled to meet with the Minister of State for Housing Affairs, Ammar Al-Ajmi; To discuss the participation of South Korean companies in managing the new Abdullah City development project and the main infrastructure construction project.
Design changes
Kuwait Integrated Petroleum Industries Company (KIPIC) has made major changes to the engineering and front-end design of the Al-Zour Petrochemical Complex project.
The company said, in its recently released annual plan, that it plans to bid for the corporate planning contract for the Al-Zour Integrated Complex Upgrade Program, as the contract will take 6 months to implement with the tender being issued next May.
During 2022, Quebec shelved the project while it awaited the results of a final feasibility study conducted by UK-based research and advisory group Wood Mackenzie.
The corporate planning contract includes studies related to the optimization of heavy crude oil in the existing Al-Zour refinery, which produces low-sulfur fuel oil.
Sources confirmed that Quebec recently received the results of the feasibility study for the Al-Zour petrochemical complex project, noting that it is unlikely that the project, valued at about $10 billion, will witness large-scale reviews thanks to the latest study.
The study included tips, including the need to take measures to fortify the facility in the future, by designing it to enable it to add additional units at later stages, in response to changing market conditions.
The study reviewed the market outlook for refined products and petrochemicals over the next 25 to 35 years.
competing firms
Quebec qualified the companies that will participate in bidding for the Al-Zour petrochemical complex in April of last year.
The company has published a list of companies qualified to bid on the three main packages of the project, which is referred to – alternatively – as the “Al-Zour Refinery and Petrochemicals Integration Project”.
The list of groups and companies qualified to submit bids for the first and second packages includes the alliance of the Spanish company Tecnicas Reunidas with the Chinese company Sinopec, the alliance of the South Korean company Samsung with the Taiwanese company CTCI Corporation and the Greek-Lebanese United Contractors Company.
The list of competing companies also includes the alliance of the American Fluor Company with the South Korean Daewoo Engineering and Construction, the China Huanqiu Contracting and Engineering Company, the Italian Saipem Company’s alliance with the South Korean Hyundai Engineering and Construction Company, the French company Technip Energy, the South Korean SK Engineering and Construction with the British Petrofac, and the company JGC Japan.
The scope of the first package includes gasoline and olefins units, valued at about $4 billion, while the scope of the second package includes aromatics units, and the third package covers the construction of port and export facilities, in addition to land and sea pipelines.
4 groups were qualified to submit bids for the third package, valued at about $1.5 billion, which includes the alliance of China Harbor with the Italian company Saipem, the alliance of South Korean SK Engineering and Construction with Larsen & Toubro for Indian Hydrocarbon Engineering, and the alliance of Hyundai Engineering and Construction and Hyundai. Engineering of the two Koreas, and the alliance of the French Evag Genie company with the Indian Avcon Infrastructure and the South Korean Daewoo Engineering.
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