Amsterdam, the Netherlands, 02 January 2008 - Bateman Litwin N.V. is pleased to announce that Litwin SA, its wholly-owned subsidiary, has been awarded by Horizon Tangier Terminals (HTTSA) a US$120 million (including option) contract for the Engineering, Procurement and Construction (EPC) of a new storage terminal at Tangier.
The scope will include the supply of 17 tanks totalling 500,000 m³ capacity (346,000 m³ in base and 144,000 m³ in option), flow lines, unloading/loading facilities, electrification and instrumentation works as well as civil works. The overall project duration is expected to be 22 months.
This project is part of the development program of the new port of Tangier, Morocco strategically located at the entrance of the Mediterranean basin. The terminal will store and distribute bunker fuel and white products such as fuel oil, diesel, mogas (motor gasoline), gas oil and marine diesel.
Max Abitbol, Chief Executive Officer of Litwin SA said:
"This project is a key element of the visionary program for the development of the new port of Tangier set out by the Moroccan Government, and as such, we are very proud of being selected to participate in it. I am also satisfied with the synergies between Litwin France, Litwin UAE and Litwin Morocco for this important project which we will execute from these operational centres, thus mirroring the location of the shareholders of HTTSA."
Notes to Editors:
About Horizon Tangier Terminals SA (HTTSA)
HTTSA is a special purpose vehicle created to construct and develop a hydrocarbon storage and distribution terminal at the new port of Tangier in Morocco. The shareholders are Horizon Terminal Ltd, subsidiary of ENOC (Dubai), Akwa Group (Morocco) and Independent Petroleum Gp (Kuwait). The Tangier Mediterranean Special Agency awarded the concession to HTTSA to build and then operate the terminal for 25 years.
About Horizon Terminal Ltd (HTL)
Horizon Terminals Limited (HTL) was incorporated in 2003 as a limited liability company in Bahamas. The current authorized share capital is US$200 million. HTL is wholly owned by ENOC Group, a company owned by The Government of Dubai. With an increase in demand in the bulk liquid terminalling business, Emirates National Oil Co. LL (ENOC) created HTL in order to consolidate its existing terminalling investments, and expand the business globally. HTL was able to expand from its terminals in UAE and Saudi in 2003 to its current locations which include the Far East and Africa. The current locations comprise: UAE, Saudi, Singapore, Korea, Djibouti.
To find out more about HTL please visit: www.horizon-terminals.com
About Akwa Group
Akwa Group is the first Moroccan Energy group. Market leader in the distribution of fuel and gas, it also operates in other areas such as print media or telecommunications. With a portfolio of about forty companies and twenty flagship brands that revolve around four major operational hubs: Fuels & Lubricants, Gas , Fluids, Technology, Media & Telecoms.
To find out more about Akwa Group please visit: www.akwagroup.com
About Independent Petroleum Group (IPG)
Independent Petroleum Group (IPG) was established in 1976 and became a public limited company in 1995. The firm headquartered in Kuwait initially relied solely on oil trading activities; however, in 1999 diversified its now worldwide operations into trading and marketing of crude oil, petroleum products, LPG, petrochemicals and fertilizers.
To find out more about IPG please visit: www.ipg.com.kw
About Bateman Litwin N.V.
Bateman Litwin N.V. is a mid-sized Oil, Gas, Power and Renewable Energy EPC (engineering procurement and construction) contractor and a proprietary technology provider in the Renewable Energy and the Phosphate and Solvent Extraction dependent industries. It is increasingly furthering its reputation by combining its world class EPC skills with its leading technology expertise.
To find out more about Bateman Litwin please visit: www.bateman-litwin.com
Enquiries:
Daniel Pollak, Litwin Communication Director Tel: +33 (0)1 72 25 52 16
Ingrid Boon, Bateman Litwin Investor Relations Manager T el: +44 (0) 207 221 6219