Wison Engineering secures $834m contract from PDVSA

Wison Engineering has secured an $834m procurement and construction contract from PDVSA Petroleo to prepare the site for the Venezuela Puerto la Cruz oil refinery deep conversion project.

The latest deal is the second contract from PDVSA to Wison, which already secured a $2.997bn EPC contract in June 2012 for the same project.

Hyundai Engineering is also participating in the project, and has formed a consortium Hyundai-Wison.

Wison Engineering will take the responsibility for procurement and construction of land improvement, new tankers, administrative buildings and temporary facilities. The company plans to complete the project 12 months after commencement of the work.

PDVSA Petroleo vice president Asdrúbal Chávez said that the preliminary work is important for the entire deep conversion project at the oil refinery.

"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," Chávez added.

Wison Engineering senior vice president Dong Hua said the company will bring an outstanding and well-equipped project management team, which will ensure the timely delivery of the project.

"The signing of the contract is a testimony to Wison Engineering’s strategy of business diversification and marks a milestone in Wison Engineering’s overseas business expansion strategy," Hua added.

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Image: Wison will prepare site for the Puerto la Cruz oil refinery deep conversion project in Venezuela. Photo: courtesy of freedigitalphotos.net.