Tender for operating oil storage compound

Deadline for applying tenders for building compound extended to July 28

June 29, 2011- The Ministry of Energy and Water announced the launching of a tender to operate a compound of 14 oil storage facilities, which will be built at the premises of the old oil refineries in Tripoli.

The ministry called companies wishing to join the bid to obtain a list of conditions from the Office of Oil Facilities in Tripoli and Zahrani, located in Furn El Chebak,. The deadline for submitting offers is Tuesday, August 23, 2011.

On another note, the ministry said that according to the request of companies, the deadline for applying tenders to build the said compound was extended from May 7 to July 28.

The Ministry had announced last month a tender offer for the construction of the oil storage compound with a total storage capacity of 428,000 cubic meters. It estimated the project's cost at $60 million, which would be financed in part by the government and in part by the multinational firm that would win the tender. Annual revenues from the new facilities were estimated at $50 million, with a payback period of 14 months for the project.