Orpic wins award

TXF’s Perfect 10 is a prestigious award given to the top 10 deals that are recognised for the most innovative, market influencing transactions within trade, commodity, export credit agency (ECA)/development finance institution-backed and project financing.

Duncan Wigney, Executive Vice President of CB&I’s Engineering & Construction operating group, said: “CB&I and Orpic have demonstrated strong cooperation and partnership on this project, including the project financing […] We want to congratulate Orpic for achieving this significant award, which acknowledges the collaboration and teamwork of all parties involved.”

CB&I played a key role in the provision of US$1.3 billion multi-ECA financing for package 1 of the project. The financing was secured in a collaborative effort between Orpic, CB&I and five ECAs in 2016. This is the largest ever project financing transaction to be achieved in the Sultanate.

CB&I, in joint venture with CTCI Corp., is providing the engineering, procurement and construction (EPC) for the steam cracker and associated utilities for the complex. The scope of work includes ECA-financed EPC for a grassroots 880 000 tpy ethylene plant, pygas unit and MTBE unit, as well as the related off-sites and utilities. CB&I is also fabricating cryogenic and atmospheric storage tanks, and pipe spools for the project.

Read the article online at: https://www.hydrocarbonengineering.com/refining/15092017/orpic-wins-award/