Financial Model to confirm Refinery Configuration – Ongoing and to be completed end of Nov 2022
Selection of Licensor – Ongoing and to be completed by end of Nov 2022
FEED to be kicked off immediately after completion of pre-FEED phase, FEED contract between TCM and ARPHL already signed (TCM will execute FEED in partnership with NETCO).
ARPHL and TCM have signed MOU for the EPC phase, subject to Final Investment Decision from ARPHL’s equity partners
TCM is currently executing EPC contract for rehabilitation of PHC refinery (same location where ARPHL will be located) with consequent optimization for execution of the ARPHL 100,000 barrel/day greenfield refinery