CB&I (NYSE:CBI) has been awarded a contract valued in excess of US $70 million by Daewoo Engineering and Construction Co., Ltd. to provide the propylene storage tanks for the Ruwais Refinery expansion project in Abu Dhabi.
Takreer, the Abu Dhabi Refining Company, is expanding the refinery to add 400,000 barrels per day capacity. In 2009, Takreer awarded Daewoo Engineering the expansion project worth $1.17 billion. The scope of work for Daewoo includes building 76 storage tanks, and the project is expected to be completed by February 2014.
CB&I’s scope of the project is expected to be completed in 2013.