The company, a subsidiary of Sinopec Corp bid came in at around $135 million, sources said. Japan’s JGC Corp was the second lowest bidder with an offer of around $150 million.
The plant is located in Wasea, near the capital Riyadh, and would have the capacity to handle 185,000 barrels per day (bpd) of oil.
Aramco has 20 fuel distribution plants, known as bulk plants, spread all over the kingdom. The plant is a wholesale receiving and distributing facility for refined oil products. It includes storage tanks, warehouses and truck-loading facilities.
A source close to the bids said Aramco is holding negotiations with three companies whose bids were the lowest adding that prices were very close. He said Aramco has not officially notified Sinopec it won the deal.
Aramco is expected to sign the contract with Sinopec in few weeks, a second source said. Aramco is overhauling and expanding domestic distribution facilities to meet rapidly rising domestic demand.
