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Saunders Secures $42 Million Contract for bp Kwinana Renewable Fuels Project

6/5/2023

Saunders International - Press Release

Saunders International Limited (ASX:SND) (“Saunders” or “the Group”) is pleased to announce it has been awarded a $42 million contract to provide tank refurbishment and modification services for bp at its Kwinana energy hub, in
Perth, Western Australia.

The fixed price Engineering Procurement and Construction (EPC) contract forms part of bp’s Kwinana Renewable Fuels project. The scope involves 25 tanks at the bp Kwinana energy hub being repurposed for feedstock or biofuels storage.

The Kwinana Renewable Fuels project is one of five biorefineries that bp has planned globally. The project plans to reutilise some infrastructure at the bp Kwinana site to produce lower carbon fuel products that have the ability to support the decarbonisation of aviation and heavy industry. The project is subject to regulatory and State government approvals.

Saunders’ Managing Director & Chief Executive Officer, Mark Benson said, “Saunders continues to build on its strong track record as a trusted partner for repeat client, bp. This win is particularly pleasing as it’s the first of its kind
globally for bp and a first for Australia. We’re excited to help bp repurpose the former Kwinana oil refinery so it’s future ready.”

This project will commence in July 2023 and will contribute to Saunders’ revenue and earnings from FY24 to FY26.