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Sinopec Engineering Group Co Ltd. — Regulatory Filings 2015
Oct 14, 2015
14896_rns_2015-10-14_1d7c2678-66b8-4c34-ac8e-b78b68b49404.pdf
Regulatory Filings
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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中石化煉化工程(集團)股份有限公司 SINOPEC Engineering (Group) Co., Ltd.[*]
(a joint stock limited liability company incorporated in the People’s Republic of China)
(Stock Code: 2386)
VOLUNTARY ANNOUNCEMENT
EPC Contract with KNPC
The board of directors (the “ Board ”) of SINOPEC Engineering (Group) Co., Ltd. (the “ Company ”) is pleased to announce that on 13 October 2015, a consortium formed by the Company, Spanish Técnicas Reunidas, S.A. and Korean Hanwha Engineering & Construction Corp. (the “ Consortium ”) officially entered into a package contract of engineering, procurement and construction (EPC) (the “ Contract ”) with Kuwait National Petroleum Company (“ KNPC ”) for its new AL-Zour refinery project in Kuwait (the “ NRP AL-ZOUR Project ”). NRP AL-ZOUR Project is located in AL-Zour, Kuwait. Each of KNPC, Spanish Técnicas Reunidas, S.A. and Korean Hanwha Engineering & Construction Corp. is an independent third party of the Company. The Company received the letter of award with respect to the Contract on 30 July 2015. For relevant details, please refer to the announcement published by the Company on 31 July 2015.
The work scope of the Consortium under the Contract includes an atmospheric distillation unit of 10 million tons per annum (“ Mtpa ”), a residue hydro-treating unit of 5 Mtpa, a diesel hydro-treating unit of 3 Mtpa, a naphtha hydro-treating unit of 1 Mtpa, a kerosene hydro-treating unit of 2.5 Mtpa, a set of heavy oil recycling unit and a set of saturated gas processing unit. The construction period under the Contract is planned to be 45 months. The total contract value is approximately USD 4.240 billion (approximately RMB 26.882 billion). The Company has a 40% interest in the Consortium and is therefore interested in approximately USD 1.696 billion (approximately RMB 10.752 billion) (the “ Interested Amount ”) of the total contract value. The Interested Amount will be recorded as backlog of the Company.
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The Board wishes to emphasise that the contract and the contract value mentioned above do not constitute any forecast or prediction of the profits of the Company and its subsidiaries.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board SINOPEC ENGINEERING (GROUP) CO., LTD. SANG Jinghua
Vice President and Secretary to the Board
Beijing, the PRC 14 October 2015
As at the date of this announcement, the Company’s executive directors are LU Dong, YAN Shaochun, SUN Lili (employee representative director) and WU Derong (employee representative director); the non-executive directors are ZHANG Jianhua and LI Guoqing; and the independent non-executive directors are HUI Chui Chung, Stephen, JIN Yong and YE Zheng.
This announcement will be available on the website of Hong Kong Exchanges and Clearing Limited (www.hkex.com.hk) and on the website of the Company (www.segroup.cn).
- For identification purpose only
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