Hyundai ENG’s 2 trillion won jackpot in Saudi Arabia | Hankyung.com

Hyundai Engineering announced on the 30th that it won an order for a mega gas plant construction project worth about 2 trillion won from Saudi Arabia’s state oil company, Aramco. The signing ceremony held in Saudi Arabia was attended by Kim Chang-hak, president of Hyundai Engineering, and Abdulkarim Al-Gamdi, vice president of Aramco.

Hyundai Engineering formed a consortium with Hyundai E&C and won the ‘Saudi Zapura Gas Treatment Facility Project’. The stake is 55% in Hyundai Engineering and 45% in Hyundai E&C. This project is to construct a gas processing facility and sulfur recovery facility from the Japura gas field 150 km southwest of Damman, Saudi Arabia. The Hyundai Engineering Consortium is in charge of the sulfur recovery facility package and utility infrastructure. The two companies were recognized by Aramco for their outstanding technological prowess and business management capabilities, and were selected as the final successful bidders, beating out global competitors.

Hyundai Engineering has recently succeeded in winning orders one after another based on its technological competitiveness and business experience in the field of basic design (FEED). Last May, it won an order for the ‘Polish PKN Olefin Expansion Project’ worth 2.7 trillion won. In addition, it has won business in Russia, the United States, and Malaysia. Hyundai E&C is also maintaining a strong relationship of trust with Aramco by successfully carrying out Aramco’s project, such as the Karan gas treatment facility ($1.4 billion, completed in 2012).

An official from Hyundai Engineering said, “This order is the result of being recognized for its ability to carry out business in the Middle East, a traditional field for receiving orders.

By Eun Jeong-jin, staff reporter [email protected]

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