|
| Owner |
: |
QatalumQatalum - Qatar
|
| Shareholders |
: |
Qatar PetroleumQatar Petroleum - Qatar - 50.00 %
Hydro Aluminium - Norway - 50.00 %
|
| Location |
: |
Mesaieed Industrial City |
| Contract Type |
: |
EPC - Engineering, Procurement, Construction |
| Payment Terms |
: |
Lump Sum Turnkey (LSTK) |
| Facility Type |
: |
Aluminum smelter |
| Capacity |
: |
585,000 t/y |
|
| Background |
Qatalum plans to develop an aluminum smelter in Mesaieed Industrial City, Qatar.
The smelter will have a capacity of 585,000 t/y and could be expanded to a capacity of approximately 1.2 million t/y.
The Qatalum aluminum smelter forms the main component of the Qatalum project. The second component entails the construction of a captive power plant with a capacity of 1,250 MW.
SNC LavalinSNC Lavalin carried out FEED. |
| Current Status |
In August 2008, 36% of the overall project construction was completed. The plant will start commissioning in Q4 2009 and will reach full production capacity in Q2 2010.
On 19 November 2007 the foundation stone was laid and the construction work started on site.
In October 2007, Solios Carbone from France was awarded the EPC contract for the gas treatment centres.
In September 2007, Qatalum awarded the contracts to build the anode baking plant, green anode plant and cast house. The consortium of Fata Group, Italy and K Home International, UK was awarded the USD 500 million anode baking plant and cast house. Solios Carbone of France was awarded the green anode plant.
In July 2007, Qatalum issued the final approval for the development of the project.
In November 2006, the EPC contract for the services area and potroom building of the plant was awarded to SNC LavalinSNC Lavalin for a value of USD 700 million.
In March 2006, Qatar Petroleum and Hydro Aluminium signed an agreement to form a joint venture company, Qatalum, for the development, construction and operation of the Qatalum aluminum plant. |
| Scope of Work |
Construction of a reduction aluminum plant, a pot-room and a smelter, cast house, carbon plant with related facilities. |
| Expected Schedule |
| Phase | Schedule | Description |
| Commissioning |
Q4 2009 | Commissioning expected to start
|
| Completion |
Q2 2010 | Project expected to be completed
|
|
| Financing Source |
Total investment cost of the project was originally estimated at USD 4.8 billion. On 30 October 2007, Norsk Hydro ASA indicated that the cost of the project will rise by USD 800 million to around USD 5.6 billion due to cost increases.
On 23 August 2007, Qatalum closed a USD2.6 billion project finance package with lending institutions for the construction of a new aluminium plant.
The limited recourse financing is comprised of a USD2.25 billion commercial bank term loan facility and a USD 350 million Export Credit Agency (ECA) with GIEK of Norway. The commercial bank term loan facility was joined by 30 banks and Export Development Canada.
The mandated lead arrangers (MLAs) comprise Arab Bank, Arab Banking Corporation, APICORP, Banco Bilbao Vizcaya Argentina, Bank of Tokyo Mitsubishi UFJ, Barclays Capital, Bayerische Hypo- und Vereinsbank, BNP Paribas, Calyon, China Construction Bank Corporation (Hong Kong), Commerzbank, DnB NOR Bank, Doha Bank, Europe Arab Bank, Export Development Canada (EDC), Fortis Bank, Goldman Sachs, Gulf International Bank, ING, Intesa Sanpaolo, Kreditanstalt fur Wiederaufbau, MashreqBank, Mizuho, National Australia Bank, Natixis, Nordea Bank, Royal Bank of Scotland, Société Générale, Standard Chartered, Sumitomo Mitsui Banking Corp, WestLB, and Woori Global Markets Asia.
BNP Paribas was the financial advisor. |
| Project Notes |
The other awarded contracts include the following:
Anode service plant contract awarded to Kempe Engineering Service of Australia.
Anode superstructures contract awarded to China Great Wall Construction Corporation.
Busbar materials contract awarded to Salzburger Aluminium of Austria.
Pot control system contract awarded to ABB, Europe.
Pot tending machines contract awarded to NKM Noell Special Cranes of Germany.
Pot shells to Ahmed Mansoor Al Aali Company of Bahrain. |
|
Standalone Project
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