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January 31, 2009

Singapore: Winning bidder for oil storage project to be unveiled soon

Singapore's state-owned industrial landlord JTC Corp said on Friday it would appoint the building contractor and operator for the city-state's underground rock cavern oil storage project on Jurong Island next month, reported Reuters.

JTC is in the final stages of evaluating the bids for the construction and operation of the Jurong Rock Cavern facility and will announce winners of the two separate tenders in February, a spokeswoman told Reuters.

She declined to reveal how many bidders were in the running or their names.

JTC's decision will come after months of delays in awarding the tenders, which were first called in late 2007.

Industry sources said bidders for the operation tender include Dutch oil and chemicals storage firm Royal Vopak NV, New York-based engineering and infrastructure consultants Parsons Brinckerhoff and storage operator Horizon Terminals Ltd, wholly owned by Emirates National Oil Company (ENOC).

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