Essar Projects secures $90 million contract in Abu Dhabi

The new contracts are from Abu Dhabi Polymers Company (Borouge) and from Abu Dhabi Gas Industries Ltd (GASCO).

Last Updated: Jun 12, 2013, 15:47 PM IST

New Delhi: Essar Projects, a leading engineering, procurement and construction firm, has secured two new orders worth USD 90 million in Abu Dhabi, taking its total order book to USD 170 million in the UAE.

The new contracts are from Abu Dhabi Polymers Company (Borouge) and from Abu Dhabi Gas Industries Ltd (GASCO).

"The company has now secured a total of five projects in Abu Dhabi in recent times amounting to USD 170 million, helping Essar Projects augment its presence in the competitive Middle East Market," Essar Projects (EPL), headquartered in Dubai, said in a statement today.

Of these five projects, three have been directly awarded on EPC basis to Essar Projects and "with this the order book of Essar Projects has swelled to over USD 3.5 billion," the company said.

Essar Projects President & CEO Alwyn Bowden said, "This is another step forward for Essar Projects in the region, underpinning our strategy to secure strong projects in our core sectors and to deliver real long term value to our key customers."

Borouge has awarded a direct contract to the company for the EPC of process equipment and associated pipelines, among others, to be completed in a time frame of 22 months.

The second order worth USD 55 million from GASCO involves EPC and commissioning of pipeline from Habshan to Ruwais in Abu Dhabi, it said, adding the project needs to be completed in 26 months.

Commenting on the development, Amit Gupta, CEO, Hydrocarbons SBU, Essar Projects said: "It is a real achievement to have secured these projects in the highly cost competitive hydrocarbons sector in the region and Essar Projects is very clear in its commitment to take this achievement to even higher levels In the future."