Binder Group is one of Western Australia’s largest designers and manufacturers of custom-built pipes for the oil and gas, power generation, petrochemical, mining and mineral processing industries.
It also supplies Woodside Petroleum’s Pluto LNG project and the Worsley Alumina refinery in Western Australia, and other Australian and international projects.
Binder needed to provide a warranty bond to supply pipe supports for the Gorgon liquefied natural gas project off the northwest coast of Western Australia, Australia’s largest single resource project and one of the world’s largest natural gas projects.
We provided a warranty bond for $547,000 that covered Binder’s warranty obligations for this project, and helped it to use its existing bank guarantee lines to fund additional LNG export projects.
“This is a prime example of how we can help contractors and subcontractors involved in export-related deals win more business,” said Efic’s Leela Hanson.
“We are able to assist eligible Western Australian companies working on major export-related resource projects with financing solutions to supplement what their banks offer.”