Petrofac Wins EPC Contract Worth $1.5 Billion

Petrofac Wins USD 1.5 Billion EPC Contract Petrochemicals Petrofac, leading a joint venture with China Huanqiu Contracting & Engineering Corporation (HQC), has received a conditional award notification from STEP Polymers SPA (100% Sonatrach subsidiary) to execute a significant petrochemical project in Algeria. The total contract value is approximately USD 1.5 billion, with Petrofac's share exceeding USD 1 billion.   The facility will be located in the Arzew Industrial Zone in western Algeria. The contract encompasses completion of a new propane dehydrogenation unit and polypropylene production unit, along with associated infrastructure and auxiliary facilities for the site. The facility is expected to produce 550,000 tonnes of polypropylene annually. Tareq Kawash, Chief Executive Officer of Petrofac Group, said: "We are proud to support our client in delivering this strategic project. Algeria is a core market for Petrofac, and we are committed to supporting long-term delivery of critical infrastructure as the country plays an increasingly important role as a major energy producer and participates in major petrochemical projects." The award is built on Petrofac's 25 years of experience in Algeria and expands the company's portfolio in the petrochemical sector. Source