Darwin Refinery

project summary and funding request

Darwin Clean Fuels is proposing to design, build and operate a condensate processing facility near Darwin's East Arm Port to produce high quality transport fuels that will meet the new Australian Standards for clean fuels.

The new processing plant will supply high quality petrol, diesel, LPG and jet fuel to the Northern Territory market. In addition, Darwin Clean Fuels will be seeking to export petrol to markets such as Asia and the US West Coast, where stringent environmental standards for fuel quality are already in place.

The Darwin Clean Fuels project capitalises on Darwin's proximity to the Timor Sea gas fields and Asia, Darwin's natural deep water port, new bulk liquid facilities at East Arm Port, the new transcontinental AustralAsia Railway linking Australia's northern and southern coasts, and the new Darwin Business Park.

DARWIN CLEAN FUELS PTY LIMITED

Capital Expenditure Budget

PRE CONSTRUCTION COSTS BASE COST

Pre feasibility study
Feasibility study and expert opinion
Option on refinery site
Prospectus and public company vehicle
Corporate operations
Design & engineering
Construction contract
Operation & maintenance contract
Project construction & operating insurances
Conditional crude oil supply contract
Project agreement
Conditional product offtake contracts
Conditional shipping contracts

250,000
500,000
100,000
500,000
300,000
2,000,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000

TOTAL PRE-CONSTRUCTION COSTS 4,000,000

CONSTRUCTION PERIOD EXPENSES BASE COST

Management	630,000
Legals	180,000
Corporate ID	0
Travel	270,000
Public relations	360,000
Office costs	270,000
Accounting	90,000

TOTAL CONSTRUCTION PERIOD COSTS 1,800,000

CONSTRUCTION COSTS BASE COST

Project Management	12,800,000
Off Plot Engineering	2,000,000
Construction Engineering	7,400,000
Process Plant Engineering	88,200,000
Refinery Installation	20,200,000
Earthworks	5,700,000
Site Security	1,500,000
Pipeline To Terminals	1,800,000
Refinery Infrastructure-Piping	8,600,000
Other Refinery Infrastructure	23,100,000
Tankage	68,500,000
Wharf	6,000,000
Power Station	26,500,000
SUB-TOTAL	272,300,000
Contingency	27,230,000

TOTAL CONTRUCTION COSTS $299,530,000

TOTAL CAPEX BUDGET $305,330,000