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FINANCIAL NEWS
Bapco, Italian Technip sign key deal
16 Sep 2014
(MENAFN) Bapco announced signing a key deal with Project management, engineering and construction firm Technip Italy as part of its multi-billion-dollar expansion to raise its refining capacity by 100.000 barrels per day (bpd), Gulf Daily News reported.
The Italian company will carry out the front-end engineering and design (FEED) for the Bapco Modernisation Programme (BMP), with an estimated cost to reach USD5 billion.
The complete project will include a crude unit and associated facilities, hydrocracker and associated facilities, residue conversion units and a waste treatment facility.
The refinery expansion will allow Bapco to have a higher throughput, improved product quality, as well as ensuring that the company will have a continued competitiveness under a wide range of prices and market scenarios.
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