Furnace Fabrica India, Mumbai (FFI)
bagged a contract worth Rs.3,200 crore ($700 million) from Yemen Gulf Oil Co. to
build a 45,000 barrel per day (bpd) refinery near Ras Issa in Hodeidah on the
Red Sea coast of Yemen.
The project will be owned by a company
set up by Yemeni and Saudi investors. The scope of the project to be implemented
in phases includes engineering, procurement, construction and commissioning of
the project.
Phase I of the project is expected to
cost $200 million and will produce diesel, furnace oil, LPG, kerosene and
naphtha. Construction work on the project is underway with completion scheduled
for June 2007.
Phase II of the project will involve
an additional investment of $500 million.
intordr