POST Online Media Lite Edition


Hyundai E&C-led consortium wins $2.93 billion deal from Kuwait

Staff writer |
A South Korean consortium led by Hyundai Engineering & Construction got a $2.93 billion construction deal from Kuwait to build liquefied natural gas (LNG)-related facilities.

Article continues below

Under the deal with Kuwait National Petroleum, the consortium, which includes Hyundai Engineering and state-run Korea Gas , plans to construct re-gasification facilities and LNG tanks in Al-Zour, 90 kilometers south of the capital city.

Hyundai Engineering accounts for $1.39 billion of the deal, while Hyundai Engineering & Construction and Korea Gas take up $1.52 billion and $120 million, respectively.

Hyundai Engineering will be in charge of the re-gasification plants, while the construction firm will build the LNG tanks and coastal facilities.

The consortium said the project will be finished in 2020.

What to read next

Hyundai Rotem wins $316m train-supply deal from Turkey
Hyundai Merchant Marine to raise $615 million via stock sale
General Electric to sell 43% stake in Hyundai Card Co.