PROJECT STA­TUS (2018)

Refining & Petrochemicals Middle East - - PROJECT FOCUS -

Oct 2018

The ECA UKEF is re­view­ing the en­vi­ron­men­tal and so­cial im­pact the BMP project will have, be­fore com­mit­ting to pro­vide fi­nan­cial back­ing for the project.

Jun 2018

The head of fi­nanc­ing for the BMP and rep­re­sen­ta­tives from the EPC com­pa­nies have at­tended an event or­gan­ised by the ECA UKEF so that Bri­tish com­pa­nies can meet with them and be­come sup­pli­ers for the project.

Jun 2018

Bapco has en­tered into ad­vanced talks with ECAS to se­cure $3bn to $4bn of fi­nan­cial back­ing. Th­ese ECAS in­clude Italy’s SACE, Bri­tain’s UKEF, Spain’s CESCE and the Ex­portim­port Bank of Korea.

Apr 2018

Bapco has con­tacted sev­eral com­mer­cial banks about the pos­si­bil­ity of ob­tain­ing a loan of $1bn to aid in fi­nanc­ing the re­fin­ery ex­pan­sion.

Feb 2018

Bapco and the con­sor­tium led by Tech­nip have signed the EPC con­tract. The ex­pan­sion is on track to be com­pleted by 2022.

Jan 2018

Bapco and the con­sor­tium of Tech­nip, Tec­ni­cas Re­u­nidas, and Sam­sung En­gi­neer­ing are now sched­uled to sign the EPC con­tract be­fore the end of Jan­uary 2018.

Jan 2018

The EPC con­tract that was awarded to the con­sor­tium of Tech­nip, Tec­ni­cas Re­u­nidas, and Sam­sung En­gi­neer­ing has not been signed yet. There is cur­rently no up­dated sched­ule on when the con­tract will be signed.

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