Hyundai-led consortium bags Kuwait deal
SEOUL, March 7, 2016 – Hyundai Engineering, Hyundai Engineering and Construction and Korea Gas Corporation have won major contracts related to the construction of an LNG import terminal in Al Zour, Kuwait.
On Monday, the Korea Times reported that a consortium headed by Hyundai Engineering had clinched some USD 2.93 billion worth of engineering and construction work, which includes a regasification plant, docking facilities and LNG storage tanks.
Valued at around USD 1.5 billion, the construction work on the regasification facility is expected to be carried out by Hyundai Engineering while Hyundai Engineering and Construction will be responsible for the USD 1.4-billion work on the docking facilities and storage tanks.
Estimated to take 58 months to build, the facility is expected to be completed some time in 2020. Initial operations will be overseen by Korea gas Corporation.
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