JoPetrol receives bids for $2.6b expansion

1. ID-JO Petrol Gas Station (1)
The Jordan Petroleum Refinery Company received a bid from three consortiums to expand their project. (Photo: Intelligent Design Firm)
AMMAN— The Jordan Petroleum Refinery Company (JoPetrol) on Wednesday received bids from three consortiums comprising seven major Korean, Chinese, Japanese, Italian, Spanish, and English companies to win the fourth refinery expansion project at a cost expected to exceed $2.6 billion.اضافة اعلان

Each of the bids received consisted of a technical offer, a financing offer, and a financial offer. JoPetrol has already begun to open technical offers for its engineers and consultants to evaluate the offers before opening up the financing and financial offers, according to the Jordan News Agency, Petra.

Given the importance of this national project, which would improve the Kingdom’s energy security, the company said that it would make every effort to select the winner as quickly as possible, taking into account the importance of the project’s accuracy and quality.

Last January, JoPetrol invited the companies to submit their bids and provided them with copies of the bid terms, as well as answered hundreds of inquiries from contractors and then enabled them to visit the refinery and the project site in Zarqa.

The project cost is expected to exceed $2.6 billion, financed by export credit agencies from different countries, in addition to contributions from existing and new shareholders.

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