Cape plc RNS Reach - KSA contract amendment award
January 17 2017 - 2:00AM
RNS Non-Regulatory
TIDMCIU
Cape plc
17 January 2017
RNS Reach
17 January 2017
KSA Contract Amendment Award - Daewoo awards an amendment for
scaffold Subcontract for Jazan Project.
Cape plc (CIU.LN), an international leader in the provision of
critical industrial services to the energy and natural resources
sectors, is pleased to announce that its Saudi Arabia operations
have received a scaffold contract amendment to provide for an
increased scope of 107,000 sqm of suspended scaffold and 182,000
cum tower scaffold with an extended hire term for their Jazan
project.
Saudi Aramco's Jazan Refinery and Terminal (JRTP) is being
constructed on the southern coast of the Red Sea and coastal part
of the City of Bish. The refinery will cover an area of 12km(2) and
will process 400,000 barrels per day of Arabian Heavy and Arabian
Medium crudes to produce 80 million barrels per day of gasoline,
250 million barrels per day of diesel and more than one million
tons per annum of benzene and Para xylene petrochemical
products.
Daewoo E&C's plant construction projects are delivering a
major role along with JGC in JRTP for Saudi Aramco.
Cape, which operates as Cape RB Hilton in Saudi Arabia, has
developed a successful relationship with Daewoo in delivering the
original scope and is delighted to secure this amendment award and
strengthen the business ties of both organisations.
Paul Cockerill, Managing Director KSA & Bahrain commented:
"This subcontract amendment award is an important win for Cape RB
Hilton and firming up our service offering with Daewoo E&C. It
is the result of commitment to deliver a safe and reliable service
to our customer. This increase in value of existing ongoing work
plays a key share for our revenue in 2017."
About Cape:
Cape (www.capeplc.com), which is premium listed on the main
market of the London Stock Exchange, is an international leader in
the provision of critical industrial services principally to the
energy and natural resources sectors. Our multi-disciplinary
service offering includes access systems, insulation, specialist
coatings, passive fire protection, refractory linings, mechanical
services, environmental services, oil and gas storage tanks and
heat exchanger replacement and refurbishment. Cape employs c.16,400
people working across 19 countries and in 2015 reported adjusted
revenue of GBP711.4 million.
- End -
Enquiries
Cape plc
Joe Oatley, Chief Executive +44 (0) 1895 459 979
Michael Speakman, Chief Financial Officer +44 (0) 1895 459 979
Ian Wood, Head of Investor Relations +44 (0) 1895 459 979
Buchanan
Bobby Morse, Ben Romney, Chris Judd +44 (0) 207 466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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