BGR Energy bags oil storage tanks order from Iraq

June 6th, 2008 - 12:41 am ICT by IANS  

Chennai, June 5 (IANS) Engineering design and fabrication company BGR Energy Systems has bagged a contract worth around $9.2 million to design and manufacture 70 oil product storage tanks for Iraq’s State Co for Oil Projects (SCOP). The storage tanks are for the new Aumara Oil Products Depot in Iraq.

The company said the contract would be completed in 12 months.

BGR Energy president-corporate R. Ramesh Kumar told IANS: “We don’t perceive any risk in this deal as the payment is secured against a letter of credit. Further, we will be designing the storage tanks in India and the Iraqi engineers will come here to approve them.”

Once the design is approved, BGR Energy will fabricate the tanks and ship them to Iraq where erection will be done by Iraqi engineers.

The scope of contract includes design, pre-fabrication and supply of steel storage tanks along with cooling water system, foam system, fire protection system, radar gauges and other instrumentation.

BGR Energy is currently executing three contracts for SCOP for design and supply of a gas processing complex and storage tanks for an aggregate value of $94.48 million.

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