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PENSPEN WINS ENGINEERING PROJECT IN UAE

A REFINERY IN UAE

PENSPEN, A LEADING global facility in Jebel Dhanna last year. cleats and platform modifications as
provider of engineering and project The scope of engineering support part of the remit.
management services to the energy services Penspen will provide includes Neale Carter, Penspen’s Executive
industry, has secured a detailed a site survey, insulation selection, Vice President for the Middle East,
engineering project award from Target tank dome roof design and a tank shell Africa and Asia Pacific Regions,
Engineering Construction Company, a adequacy check due to the additional said: “To be awarded further work in
leading engineering, procurement and loading that will be taking place. conjunction with the existing contract
construction (EPC) contractor in Abu Checks for both tank foundation we have with Target Engineering
Dhabi, UAE. adequacy and tank shell and is excellent and a great example of
Penspen will undertake engineering foundation/anchor bolt adequacy for Penspen’s reputation within the Middle
works for the existing T-1517, 1518 and wind and seismic activity will also East market.
1519 crude oil tanks in the Jebel Dhanna be undertaken. Penspen will develop “We are confident that our expert
Crude Receiving facility. This latest structural engineering drawings with a services will be delivered seamlessly
project is in addition to the ongoing bill of quantities, as well as preparation and build upon the excellent
detailed engineering contract awarded tank modification drawings related to relationship between Penspen and
to Penspen by Target Engineering for the insulation cleats, dome roof support Target Engineering.”

to create value for our stakeholders refinancing underlines the success to consortium of four leading
across all core areas of activity – date of the group’s business strategy, European banks: Banco Santander,
whether that’s building the low the confidence of the financial Intesa Sanpaolo, Lloyds Bank and
carbon heat networks of the future, community on our credit profile and Natwest Markets.
leveraging the power of metering the support of our shareholders in our
and data to help customers measure plans for the future. The new financing
and improve their sustainability, platform strengthens our position in
or introducing innovations in local markets linked to Britain’s roadmap to
energy network design to meet net zero and provides the foundations
demand for greater electrification.” for a sustained period of accelerated
Luca Sutera, Chief Financial and targeted growth.”
Officer at Energy Assets Group, said: The refinancing package has been
“The successful completion of the arranged and fully underwritten by a

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18/11/2021 11:34
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IGEMNews_IndAffliates.indd 2 18/11/2021 11:34