Mitihoon – Mr. Sarath Ratanavadi (3rd from left), Chief Executive Officer, Gulf Development Public Company Limited (GULF), and Mr. Hee Min Jeong (4th from left), CEO & President, POSCO E&C signed the Engineering, Procurement, Construction, and Commissioning (EPCC) Contract between Gulf MTP LNG Terminal Company Limited (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 are Mrs. Porntipa Chinvetkitvanit (2nd from left), Deputy CEO, GULF and Mr. Nattawoot Krerpradab (far left), President, PTT Tank Terminal Company Limited (PTT Tank) and executives from the PEC-CAZ Consortium.
The EPCC contract was signed between Gulf MTP LNG Terminal Company Limited (GMTP), a joint venture between GULF and PTT Tank, with shareholding of 70% and 30%, respectively. PEC-CAZ Consortium comprises South Korean construction giant POSCO Eco & Challenge Company Limited (PEC) and CAZ (Thailand) Public Company Limited (CAZ). 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 giant, 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 200 rai of reclaimed land, with an initial capacity of 8.0 million tons per year (for the first phase of the LNG terminal).
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