Wednesday, Jun 30, 2010
CAIRO (Zawya Dow Jones)--Egypt's Engineering for the Petroleum and Process Industries, or Enppi, won a contract worth $400 million to build oil storage tanks in Saudi Arabia, Egyptian daily Al Alam Al Youm reports Wednesday.
The project, for Saudi Aramco, will require Enppi to build 47 oil storage tanks capable of storing 12 million barrels of crude oil and petroleum products, the paper reports.
Enppi won the deal against competition from 11 international companies, the paper adds.
The Egyptian General Petroleum Corp., or EGPC, is the main shareholder in Enppi owning 97% of its shares.
Newspaper source: www.gn4me.com
-By Shereen El Gazzar, contributing to Dow Jones Newswires, +201 24298286, Shereen.elgazzar@gmail.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
30-06-10 0727GMT
