Rotary Engineering's Jv Unit Secures US$34mln Contract In Saudi Arabia

SINGAPORE, Feb 14 (Bernama) -- A joint venture unit of Rotary Engineering Ltd has secured a US$34 million Engineering, Procurement and Construction (EPC) contract to build 17 field storage tanks in Saudi Arabia. The contract relates to the US$1.23 billion Shoaiba II Combined Cycle Power Plant Project in Shoaiba, some 120 km south of the Red Sea city of Jeddah. It was awarded to Rotary’s joint venture company Petrol Steel Co. Ltd. by South Korea’s Daelim Group, which is the main contractor for the project. The combined-cycle plant, which is owned by the Saudi Electricity Co, will have a power capacity of 1,238 megawatt when completed. The contract will see Rotary building 17 field storage tanks which will primarily be used to store fuel oil. Announcing this here Tuesday, Rotary chairman and managing director, Chia Kim Piow said: "We are hopeful and optimistic that more opportunities will open to us as we continue to fortify our presence in Saudi Arabia." Work is scheduled to start in June and is expected to be completed around mid 2013. Rotary Engineering provides engineering, procurement, construction and maintenance services serving the oil & gas and petrochemical sectors. -- BERNAMA