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

A South Korean consortium led by Hyundai Engineering & Construction Co. said Monday it has clinched a $2.93 billion construction deal from Kuwait to build liquefied natural gas (LNG)-related facilities.

Under the deal with Kuwait National Petroleum Co., the consortium, which includes Hyundai Engineering Co. and state-run Korea Gas Corp., 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. (Yonhap)