(Yicai Global) Sept. 21 -- An East China Engineering Science & Technology-led consortium will be the general contractor on a USD394 million methanol plant with an annual output of 600,000 tons in Abu Dhabi National Oil Company’s Ruwais Industrial Complex.

The consortium will oversee the design, procurement, construction and trial operation of the project, whose construction schedule is 30 months, the company announced on Sept. 19.

East China Engineering Science & Technology, also known as ECEC, which is based in Hefei, the capital of East China’s Anhui province, will take a 60 percent stake in the consortium, while China National Chemical Engineering’s Middle East unit will hold the remaining 40 percent, the announcement said, noting the subsidiary specializes in oil and gas fields in the upstream, producing downstream chemical products as well as being an engineering contractor for electricity, infrastructure and housing construction projects.

The project’s operator is Abu Dhabi-based Ghantoot Group, one of UAE’s most influential conglomerates, the announcement added.

ECEC’s shares [SHE:002140] closed 2.05 percent higher at CNY7.47 (USD1.09) today.

Formed in 1963, ECEC is an international engineering firm owned by China’s central government. It started publicly trading on July 12, 2007, information on its website shows.

Editor: Ben Armour