EEI eyes P13-billion contracts in Papua New Guinea

MANILA, Philippines - Construction giant EEI Corp. is reportedly bidding for construction contracts in Papua New Guinea worth a total of P13 billion in line with efforts to expand its businesses overseas.

The Yuchengco-owned company is also scouring projects in Qatar, Singapore and Guam, according to sources.

Aside from this, EEI is reportedly eyeing the construction of the Taganito nickel mine project, which is valued at a minimum P1 billion. The project, a joint venture between Japan’s Sumitomo Metal Mining Co. Ltd. and Philippines’ Nickel Asia Corp. involves the production of nickel cobalt mixed sulfide in Taganito, the northeastern region of Mindanao Island.

The Taganito Project is planned as a large scale hydrometallurgical project that will apply high pressure acid leaching process to produce 30,000 tons of nickel cobalt mixed sulfide per year from low grade nickel oxide ore. The project’s total investment outlay is estimated at $1.3 billion.

Just last week, EEI announced that its joint venture corporation in Saudi Arabia, Al Rushaid Consruction Co. Ltd. (ARCC)  was awarded a $140.09- million subcontract package to provide construction services for the Central Processing facilities of Saudi Aramco in Manifa, Saudi Arabia.

The size of the new contract is already equivalent to 49 percent of ARCC’s order backlog of $265 million as of end-September 2009. 

ARCC is an international organization which provides a diverse range of engineering and contracting services, facilities and products, including but not limited to oil and gas, petrochemical, chemical processing and power generation industries.

The company is currently the subcontractor of another JGC Arabia Ltd. project for National Chevron Phillips Ethylene plant north plot project that is ongoing in Jubail Industrial City in the Kingdom of Saudi Arabia.

Aside from this, ARCC is also the EPC service-provider of Saudi Aramco in a project involving the replacement and upgrading of flare tips of several gas oil separation plants in the eastern region of the Kingdom of Saudi Arabia.

Other projects of ARCC currently going on in the Kingdom of Saudi Arabia are the Shuqaia II Independent Water Power Plant project and the Qurayyah Power plant of Saudi Electric Co., both under Mitsubishi Heavy Industries.

EEI is a member of the Yuchengco Group of Companies, a leading conglomerate with interests in banking, insurance and financial services, education and property development.