On August 14, our company won the tender for NDA project in Saudi Arabia. This project is a complete and large-scale overseas EPC project, including design, procurement and construction. The success in this tender signifies a new major breakthrough in undertaking overseas EPC project for the company and bears great significance in the history of our company development.
In March of this year, employee of our company at all levels attached great importance to the tendering as soon as the bidding documents of NDA project were sent to our company. Mr. Xiang Wenwu, the general manager of our company, made arrangements for the tendering activity by himself and consensus was reached at the meeting attended by the corporate leaders---we need a breakthrough in undertaking EPC projects and we must win this NDA project.
The tendering team made proper division of work among team members, and team members cooperated with each other and prepared the tendering documents in an active and efficient way in order to guarantee all tendering activities go smoothly. Therefore, we completed a quality and high standard proposal which satisfied the requirements as specified in the ITB of the client within only three months. In the competition against the other 7 bidders with the international engineering background, including the licensor, SNEI won No.1 in the technical proposal with overwhelming advantages and enjoyed a good competitiveness in the commercial proposal. Finally, our company won the project with a price of 130 million USD at the stage of price negotiation.
NDA project is the 7th contract project SNEI won after the initial entry into EO/EG project at Kayan site in Saudi Arabia for the first time in 2006, and the construction period of the project will last for 27 months.