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Hyundai E&C wins plant order worth 3.2 trillion won in Saudi Arabia

Hyundai E&C wins plant order worth 3.2 trillion won in Saudi Arabia

Posted July. 11, 2019 07:31,   

Updated July. 11, 2019 07:31


Hyundai Engineering & Construction (E&C) has won a 3.2-trillion-won plant contract from Saudi Arabia. Hyundai E&C said on Wednesday that it signed a 2.7-billion-dollar deal that includes Package 6 and Package 12 development projects in Marjan at Saudi Aramco’s headquarters in Dhahran, Saudi Arabia on Tuesday (local time).

Key executives from the two companies, including Saudi Aramco President Amin Nasser, Saudi Aramco Senior Vice President Ahmad Al-Sa’adi, Hyundai E&C Executive Vice President of Plant Division Lee Won-woo, and Hyundai E&C Al Khobar Office Director Kim Hang-yeol attended the signing ceremony.

The two plant orders won by Hyundai E&C are part of Saudi Aramco’s project that aims to build processing facilities for the gas and crude oil produced from the offshore oilfields in Marjan. The Package 6 project, whose construction cost amounts to 1.48 billion dollars, plans to expand an existing gas-oil separation plant so that it can process additional 300,000 barrels a day. The package 12 project, which is approximately 1.25 billion dollars in construction cost, aims to construct facilities that supply power and water to an onshore plant. It is estimated that both projects will take 41 months to be completed since the start of the construction.

“Hyundai E&C has won the orders based on trust with Saudi Aramco as well as our capabilities and experience in many construction projects in Saudi Arabia,” Hyundai E&C said. “It will work in our advantage in winning future construction projects not only in Saudi Arabia but in the entire Middle East,” said Hyundai E&C.”

Lee Sae Saem iamsam@donga.com