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NEWS

Hyundai Engineering Wins 3 Trillion Won Construction Order for Gas Processing Facility

www.businesskorea.co.kr
28 November 2014

Hyundai Engineering received an order to build a super-sized gas processing facility, worth 3 trillion won (US$2.7 billion). This is the biggest construction order since the foundation of the company.

The contractor is LUOC, a joint venture between Lukoil and Uzbekistan National UNG. Hyundai Engineering is involved in the project as part of a consortium with Enter Engineering, a local construction company in Uzbekistan.

The total amount of the project is US$2.66 billion and Hyundai Engineering's portion is US$2.1 billion (about 2.2 trillion won). Hyundai Engineering will carry out the whole process of planning, purchasing, building, and testing. The construction will last for 44 months after the groundbreaking.

The Kandym Gas Processing Facility will be built near the Turkmenistan border, 520km southwest of Tashkent, It will process an annual 8.1 billion m3 of natural gas after its completion.

An official of Hyundai Engineering said, "Although Uzbekistan is rich in natural resources with 1 trillion m3of proven natural gas reserves, the country needs to develop new gas fields urgently, as gas fields become superannuated." He added, "We expect to obtain additional orders from this region in the future."