CB&I's scope includes the engineering, procurement, fabrication and construction of nine flat bottom tanks, as well as modifications to numerous existing tanks, all of which were previously supplied by CB&I. In support of Saudi Aramco's In-Kingdom Total Value Add program, CB&I will provide all fabrication and project management utilizing its local facilities in Al-Khobar. The project will facilitate CB&I's ongoing efforts to train, develop and employ Saudi Arab nationals in key positions.
"This award reinforces our global relationship with Técnicas Reunidas and builds on our nearly 80-year history of supporting Saudi Aramco," said Luke V. Scorsone, Executive Vice President of CB&I's Fabrication Services operating group. "Beginning in 1938, CB&I has provided nearly all of the product storage at the Ras Tanura facility."
CB&I (NYSE: CBI) is a leading provider of technology and infrastructure for the energy industry. With more than125 years of experience, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com.
Important Information For Investors And Shareholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2016, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.
View original content with multimedia:http://www.prnewswire.com/news-releases/cbi-wins-storage-project-in-saudi-arabia-300503430.html