Your Location > Home > News & Market >International News > Altech plans fixed price contract for HPA plant construction
Today' Focus
-
Hangzhou Jinjiang Group's general manager Zhang Jianyang, vice general manager Sun Jiabin and their team had attended the SECOND BELT AND ROAD FORUM FOR INTERNATIONAL COOPERATION, they also attended the signing ceremony of comprehensive strateg...
International News
Domestic News
International News
Altech plans fixed price contract for HPA plant construction
- China Aluminium Network
- Post Time: 2017/2/23
- Click Amount: 324
Altech Chemicals Limited has announced that it has reached an agreement with its appointed engineering, procurement and construction (EPC) contractor M+W Group on a framework for a fixed price EPC contract for the construction of the Company’s proposed Malaysian high purity alumina (HPA) plant.
A fixed price EPC contract insures the risks during the construction phase of the project like completion risk (cost and timeline)and project operability risk (at completion and handover). The contract will offer throughput performance guarantees and warranty periods, a performance bond, warranty bond, liquidated damages for delay in completion and a bonus for early completion. The process guarantee remains with Altech and the technical risks have been minimised through extensive test work and pilot plant testing.
About 50 M+W Group engineers, situated in both Germany and Singapore, are engaged in plant engineering and design. Detailed engineering has been going on since mid-2016 with the work anticipated to be completed during Q2 2017.
Commenting on the fixed price contract, Altech managing director Iggy Tan said, “Reaching conceptual agreement with M+W Group on a fixed price construction contract is a significant de-risking accomplishment for Altech shareholders. The fixed price contract also delivers to debt providers a high level of comfort in terms of total project costs, potential cost overruns and completion delays. This is a great outcome and achievement for the Company.’’
- Copyright and Exemption Declaration :①All articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China
Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China
Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this.
②Articles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or
accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the
articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey
this.
③If any articles copied by our website concern the copyright and other problems, please contact us within one week.