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Oryx Engineering Solutions announces completion of project financing for new Ras Laffan Engineering

25/02/2009
Oryx Engineering Solutions LLC, a subsidiary of Oryx Energy Projects and Services LLC, (Oryx) is pleased to announce the completion of an agreement with BMI Bank, which secures finance for the construction and operation of the proposed 14,700m2 Oryx Engineering Solutions Centre in the heart of Ras Laffan industrial city.
 

Oryx Engineering Solutions LLC, a subsidiary of Oryx Energy Projects and Services LLC, (Oryx) is pleased to announce the completion of an agreement with BMI Bank, which secures finance for the construction and operation of the proposed 14,700m2 Oryx Engineering Solutions Centre in the heart of Ras Laffan industrial city.

 The finalisation of this agreement, is the result of close negotiations between Oryx and BMI Bank, and will now allow Oryx to create Ras Laffan's first truly local, purpose-built engineering service facility. The creation of this new Centre will also give Oryx the ability to play a greater part in the long-term plans for Qatar's self-sufficiency being promoted by Qatar's leadership under The Emir His Highness Sheikh Hamad bin Khalifa Al Thani, and supported by initiatives for local private enterprise.

One of the Centre's objectives is to help the energy sector reduce its dependence on external support services for its operations. The design of the new Centre has been heavily influenced by considerable input from key operators in Qatar's energy sector, who contributed to the company's extensive market research by confirming and advising where service gaps existed locally. With the benefit of this research, Oryx has been able to design and equip the Centre so that it will match the energy sector's long-term vision for local service support. Oryx has also been able to respond to the request for and embed the highest safety, environmental and quality standards in the facility's overall design parameters.

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