Wison Engineering was awarded a procurement and construction contract by PdVSA Petroleo, S.A., for the site preparation for the Puerto la Cruz oil refinery Deep Conversion Project in Venezuela.
This is the largest oil refinery PC project in Latin America acquired by Chinese enterprise to date, with a total contract value amounting to approximately $834 million.
The project is expected to be completed in 12 months after commencement of work.
"We are delighted to collaborate with Wison Engineering once again," said Asdrubal Chavez J., vice president at PdVSA. "This site preparation project is a preliminary project which is of great significance to the entire deep conversion project at the oil refinery. Wison Engineering's solid track record in the oil refinery sector and its internationalized project execution and management capabilities give us full confidence in this collaboration.
"The completion of the Puerto la Cruz oil refinery will effectively enhance the heavy oil processing capacity and oil quality in Venezuela, which will constitute a vital impetus to economic growth, employment, and technological innovation and application in the country," he added. "This partnership will be also conducive to maintaining and deepening trade and economic cooperation between China and Venezuela."
This contract is the second to be awarded to Wison Engineering by PdVSA. In June 2012, Wison won a $2.997 billion EPC contract for the Deep Conversion Project at the Puerto La Cruz refinery, in which Hyundai Engineering & Construction and Hyundai Engineering were jointly participating as part of a Hyundai-Wison consortium.
Pursuant to this contract, Wison Engineering will be responsible for the site preparation procurement and construction of land improvement, new tankers, administrative buildings and temporary facilities for the deep conversion project.