Monday March 2, 04:14 AM
SKorea's Hyundai wins 1.3-bln-dlr order from Saudi
SEOUL (AFP) - South Korea's Hyundai Engineering and Construction said Monday 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 (011760.KS - news) bolster its competitive edge against Japanese and European firms," the spokesman said.
The company aims to win overseas orders totalling about 6.5 billion dollars from the Middle East and Southeast Asia this year.
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