Jazan Gas Projects Co. scored high marks at recent global awards events and became the first Saudi industrial company to spearhead an Air Separation Unit (ASU) site located in southwestern Saudi Arabia’s Jazan Economic City.
JGPC, a joint venture between ACWA Holding (ACWA) and Air Products and Chemicals (AP), won the “Industrial Deal of the Year—Middle East and Africa” award at the Project Finance International (PFI) Awards in London in February, as well as the designation of “Best Deal—Petrochemicals—Middle East and North Africa” at the IJ Global Awards 2016 for the Middle East, held in Dubai to recognize outstanding infrastructure financing for renewable energy investors.
Solidifying its stature with the large-scale project, JGPC committed to the ASU to support Saudi oil refining operations. The facility is scheduled to go online in 2018, Mohammad Abunayyan, chairman of both the JGPC board and ACWA, said.
“Due to the sheer magnitude and complexity of the deal, it was necessary for us to implement a number of innovative financial measures … developing a unique Islamic financing structure,” Abunayyan said. “We are delighted that our efforts have been recognised by the PFI Awards and IJ Global Awards. This remarkable achievement is a testament to the highly skilled and dedicated team that manages operations and underpins our values for exceptional quality and innovation."
The plant will supply as much as 75,000 metric tons of oxygen and nitrogen daily to the new refinery and integrated gasification combined cycle (IGCC) facility. The gases will run power generators and provide power to the area’s surrounding communities.