China's Wison signs $150m EPC contract with Saudi Arabia's Sabic
The contractor will work on the Sabic Technology Centre expansion programme in Jubail
China’s Wison Engineering has won an $150m (SAR562.7m) engineering, procurement, and construction (EPC) contract as part of Saudi Basic Industries Corporation’s (Sabic) Technology Centre expansion plan in Jubail.
According to a company statement, once the expansion plan is completed, the fully integrated technology centre “will be the biggest of Sabic’s 21 global technology and innovation centres”.
Project works will be carried out by Wison Engineering’s wholly-owned subsidiary, Wison Engineering Services, which has an office in Abu Dhabi, UAE.
The deal was signed between Fahad AL-Sherehy, vice president of technology and innovation at Sabic, and Zou Yu, president for the Middle East at Wison Engineering.
Speaking on the contract, Zheng Shifeng, senior vice president of Wison Engineering, said: “The signing of the contract demonstrates the recognition of international clients for our capability to implement EPC projects in petrochemical sector and enhances Wison Engineering's reputation among the suppliers of project owners.”
The development highlights a deepening of the commercial relationship between Sabic and Wison Engineering, whose parent company Wison is headquartered in Shanghai. Since 2012, the subsidiary has delivered seven EPC projects to Sabic.
Earlier this year also saw it establish its Middle East operation centre in Saudi Arabia – a move that the group says signals its commitment to the region as the “most important market” in its global strategic development plan.
Last month Wison won an $80m (AED293.8m) EPC contract to work on Abu Dhabi Oil Refining Company’s (Takreer) Sulphur Recovering Unit (SRU) Replacement Project.