The Petrochemical Industries Design and Engineering Company (PIDEC), which shares the Consortium with the Japanese Toyo-Chiyoda, ordered Sadid Co. to build 19 machineries at $2.4 billion, Fatemi stated. “The Company has already finished building 10 of the machineries including the two towers,” he added.
The International consortium led by Toyo Engineering Corporation (TEC, headquartered in Chiba, President Toshihiko Hirose) with Chiyoda Corporation (headquartered in Yokohama, President Nobuo Seki) and (PIDEC), an Iranian engineering company, with the cooperation of Mitsui & Co., Ltd., have been awarded the fertilizer plant project contract worth about $280 million from Iran's National Petrochemical Corporation (NPC).
The project is located in the petrochemical complex in the Bandar Asaluye region, now being planned by NPC, and it will use natural gas feedstock from the South Pars Gas Field situated off the shore of the Asaluye region.
The plant will have a capacity of 2,050 t/d of ammoniac and 3,250 t/d of urea, making it the largest fertilizer plant project in the world. As a result of the international tender held in February 2001, this consortium was formally awarded the contract for the project based on its excellent past performance and the competitive package it offered. The scope of work of the contract includes basic design, detailed design, procurement of equipment and materials, and technical assistance services on a turnkey contract basis.
The plant is expected to go on stream by the middle of 2004. It is intended to be financed through bank loans from the Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI).
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MNA
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