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ASEAN, Brunei Darussalam, Economy

International Engineering and Energy Firms Rush to Cash in Brunei’s Lucrative PMB Project


Screen Shot 2014-01-18 at 00.41.37In light with the recent news, international companies such as Korea’s Pyunghwa Engineering Consultant Ltd (PEC) and Singapore’s Global Maritime And Port Services Ltd are snatching up lucrative contracts in one of Brunei’s largest developmental project yet, Pulau Muara Besar (PMB).

Pulau Muara Besar(PMB) is a multi-billion dollar project that seeks to transform a 995-hs island located at Muara, Brunei Bay into an international port centre for logistics, manufacturing and processing, commercial and recreation.

With Brunei strategically placed at the centre of ASEAN, and it being a global player in oil and liquefied gas industry, it has been receiving constant offers, bids, and deals that could help both country and ally economies attain long-term competitive advantage in the region.

China’s quest to overtake the US as the world’s biggest crude oil importer by 2017 has been made easier thanks to its companies Zhejiang Hengyi and Sinopec Engineering Inc being able to strike a $6 billion dollar PMB deal to build and expand an oil refinery and aromatic cracker plant in 2011.

According to Brunei Times, the current economic opportunities PMB offer now include the “construction of the 2.7km sea bridge, a main road approximately 3km long on the Pulau Muara Besar and approaching the road along Jalan Perusahaan.”

The board stated that the next deadline for submission of completed PMB tender will be no later than 3pm of April 10, 2014.

The project is being managed by Brunei Economic Development Board (BEBD), Brunei’s prominent economic organisation that is renowned for developing Sungai Liang Industrial Park(SPARK), I-Centre, Telisai-Lumut-Highway, and the 2000 Belait housing project.

With an excellent and reputable track record, is well expected that international firms could work well in Brunei through a strategic partnership with BEBD.

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