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China : CREC bags APH oil terminal construction contract
Publish Date : 18-May-2017
China Railway Engineering Corporation (CREC) has secured a $400m contract for the construction of the oil terminal under Malaysias recently revived Asia Petroleum Hub (APH) project.
Smart Crest has inked a framework agreement to award the engineering, procurement and construction (EPC) to CREC.
Fajarbaru Builder is the local joint venture partner responsible for civil works.
APH ceo Lim Kian Boon said: We have not defined the percentage of the joint venture yet, because the project is already 60% completed when I took over, so we are not sure how much local content is left.
According to Lim, CREC would carry out the construction of the terminal on a turnkey basis.
He added: Construction is likely to begin in the third quarter of this year and expected to be completed within 18 and 24 months.
The APH would offer transhipment and storage facilities, and serve as a strategic hub to break-bulk, make-bulk, blend and redistribute petroleum products to domestic and regional markets.
