KARACHI�The Pakistani arm of Malaysian company Keloil Sdn. Bhd. has awarded a contract worth more than $20 million to Australian engineering company Process Control Technology Pty. Ltd. (PCT) for the design, construction, and commissioning of a liquefied petroleum gas terminal at Port Qasim, about 25 km from Karachi.
Part of the PCT terms included equity participation in Keloil Pakistan, the operating company of the terminal, according to a statement.
The Malaysian and Australian firms will implement an engineering, procurement, construction and commission contract. The financing will be provided by a consortium and managed by the Bank of Islam.
PCT said it offered a technical bid with significant safety, environmental, and maintenance benefits over conventional methods.
Keloil has experience in commercial and domestic LPG supply from its operations in Kelanian state in Malaysia. The company manufactures LPG cylinders for Malaysia's principal distributors.