“There has been a shift in timelines for the downstream projects and this affected the workscope of the tender, which we called earlier,” a JTC spokeswoman told Dow Jones Newswires.
JTC, which operates Singapore’s Jurong Island refining-petrochemical hub, plans to reissue the tender before 2013, nearer the completion date of the project, she added.
Royal Vopak NV and Horizon Terminals Ltd., a unit of Emirates National Oil Co., participated in the tender, which was issued in late 2007.
The storage project, known as the Jurong Rock Cavern, will provide 1.47 million cubic meters of storage space for crude oil, condensates and diesel oil in its first phase.
A total of five caverns will be built, with the first two scheduled to be completed in 2013. The whole project will be completed in 2014.
Last month, JTC awarded a S$890.4 million tender to Hyundai Engineering & Construction Co. to build the first two caverns.