Sarath Ratanavadi, CEO, Gulf Development Public Company Ltd (GULF), and Hee Min Jeong, CEO and President, POSCO E&C, have signed an EPCC contract between Gulf MTP LNG Terminal Co. Ltd (GMTP) and PEC-CAZ consortium. This agreement is for the superstructure development of the Map Ta Phut industrial port phase 3 project. Witnessing the signing were Porntipa Chinvetkitvanit, Deputy CEO, GULF, and Nattawoot Krerpradab, President, PTT Tank Terminal Co. Ltd and executives from the PEC-CAZ consortium.
The EPCC contract was signed between GMTP, a joint venture between GULF and PTT Tank, with shareholding of 70% and 30%, respectively. PEC-CAZ consortium comprises POSCO Eco & Challenge Co. Ltd (PEC) and CAZ Public Co. Limited Ltd. The Map Ta Phut Project aims to reinforce Thailand’s energy security by supporting LNG transportation, aligning with national economic drivers and the growing gas demand, particularly within the industrial sector.
The PEC-CAZ consortium leverages the combined strengths: PEC, a global leader entity in large scale infrastructure such as Map Ta Phut Phase 1 and Phase 2, as well as environmentally conscious construction, operating as a subsidiary of the South Korean’s, POSCO Group, while CAZ, renowned for its comprehensive construction services across the energy, oil and gas, and petrochemical industries in Thailand. Together, they will carry out the superstructure work of the Map Ta Phut project, which includes the design, construction, and operation of the LNG terminal and regasification facilities on approximately 80 acres of reclaimed land, with an initial capacity of 8 million tpy (for the first phase of the LNG terminal).