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New Project Awards for Transoceanic in Saudi Arabia

Transoceanic Projects Limited, UK is pleased to announce the acquisition of several new projects in The Kingdom of Saudi Arabia.

Over the past 120 days, Transoceanic has secured four major Saudi Arabian projects from various engineering contractors in the United Kingdom, with the freight value of approximately 120 million USD. The projects have been awarded on a turnkey basis, which requires the movement of all materials and major equipment from multiple global origins direct to the jobsites, which are located in both the Eastern and Western province of KSA.

The first contract to be awarded was the Khursaniya Gas Plant (KGP) Project, which is located in Al Jubail. The shipping on this project started in February of this year. Transoceanic formed a joint venture with the Italian Project Forwarder, Fagioli, for the purpose of executing this 20-month contract and will also work with Al Majdouie in Saudi Arabia for the customs clearance and inland transportation services. The KGP Project is estimated to reach 500,000 freight tons, and the client, ARAMCO, has emphasized the importance of a “fast track” schedule.

In addition, Transoceanic/UK has also secured the Utilities & Offsites Project for SABIC (YANSAB), which is located in Yanbu. The total tonnage is expected to reach 100,000 freight tons and the early shipments have commenced, with some of the major heavy-lift items - ex Italy - already booked.

Two additional awards were given during March for the SHARQ Project and the Ethylene and U&O Projects. These two projects will total 200,000 freight tons and will run through December, 2007.

For all of these projects, Transoceanic has positioned staff within the client’s offices to work as part of an integrated logistics support team. Transoceanic will also mobilize project management personnel to Saudi Arabia to coordinate and manage the operations within the Kingdom.

These projects indicate a tremendous surge in Middle East construction, which is forecast to continue through the foreseeable future.

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