CB&I (NYSE:CBI) announced today it has been awarded a contract valued in excess of $70 million by Petrofac Saudi Arabia Co. Ltd. The project scope includes the engineering, procurement and construction of crude oil storage tanks at a grassroots refinery being constructed in Saudi Arabia.
"CB&I has provided tank and plate structure engineering, procurement, fabrication and construction services for projects in Saudi Arabia since the 1930s," said Luke Scorsone, President of CB&I's Fabrication Services operating group. "Today, we operate a world-class fabrication facility, equipment yard and project office in Saudi Arabia. This presence, along with our commitment to local clients, has led to safe, high-quality and reliable performance in Saudi Arabia over the last eight decades."