Hyundai wins $1.3b order from S Arabia
Tuesday, 3 March 2009
SEOUL, March 2 (AFP): South Korea's Hyundai Engineering and Construction said today it has won a 1.3-billion-dollar order to build a gas processing plant in Saudi Arabia.
Under the 2-05 trillion-won deal with Saudi Aramco, Hyundai Engineering said it would build the plant at Khursaniyah to process natural gas extracted from an offshore oilfield in the Gulf.
"Construction will begin this month," a company spokesman told AFP, adding the plant would start processing about 1.8 billion cubic feet of gas a day in 2012.
"The high value-added project will help Hyundai bolster its competitive edge against Japanese and European firms," the spokesman said.
Under the 2-05 trillion-won deal with Saudi Aramco, Hyundai Engineering said it would build the plant at Khursaniyah to process natural gas extracted from an offshore oilfield in the Gulf.
"Construction will begin this month," a company spokesman told AFP, adding the plant would start processing about 1.8 billion cubic feet of gas a day in 2012.
"The high value-added project will help Hyundai bolster its competitive edge against Japanese and European firms," the spokesman said.