Devco attained successful shipments to Iraq

Devco has successfully shipped US$ 53 million worth of equipment that was fabricated in Catoosa Oklahoma to Mosul, Iraq. This is the second major shipment from Devco’s US$ 78.6 million order from the Iraqi Ministry of Industry, bound for the Mishraq State Silver Mine.
It has been reported that this contract is a part of ongoing rehabilitation of the mine and at the same time, it is notably the largest contract awarded by Iraq’s Ministry of Industry in the post war period. At full capacity, the facility will be able to purify 500 000 tpy of sulfur, using Submerged Combustion Technology from Crescent Technology Inc. (CTI), New Orleans, Louisiana. The shipment is scheduled to arrive at the jobsite on June 10, and the Mishraq facility is projected to go online in January next year.

Details of Project

Included in the shipment were 43 skids as well as over 200 crates of different piping and structural material. One of the main benefits of this type of modular assembly is that as the trial fit of the entire plant was performed in Oklahoma, Devco was able to simultaneously begin construction at the site in Iraq, and will be ready to erect the equipment when it arrives in June. Tulsa based ISTI Plant Services, Devco’s key fabricator to the project, was responsible for full assembly. Working at their shop in Catoosa, ISTI poured new slabs to perform trial fit functions on each area, and as Project Manager Jeff Hutsell described, “Did so with great success while maintaining a high level of safety for all involved.”

Project Financing

Financing for the project was backed by loan guarantee from EX-IM bank. The goal of this type of loan guarantee for EX-IM Bank is to support hundreds of US small business jobs, while also supporting the sulfur and agricultural industries in Iraq.
EX-IM Bank Chairman and President, Fred P. Hochberg said, “by providing a working capital guarantee, EX-IM Bank is demonstrating that we are always looking to support US exporters and grow our economy by creating quality jobs here at home.”