Hyundai Engineering & Construction, South Korea‘s largest builder, said Wednesday it had completed work on a key gas-to-liquid processing facility in an industrial complex in Qatar.
The liquid processing unit is a key facility for Qatar’s Pearl GTL Project in Ras Laffan, an industrial region about 80 kilometers north of the Qatari capital of Doha. The project is the world’s largest gas-to-liquid processing project and aims to refine 140,000 barrels of liquefied natural gas per day. Hyundai E&C won the deal worth $1.3 billion in 2006.
“The completion will help our company strengthen its presence in the industrial plant market,” said an executive from the builder.
A completion ceremony held in the Qatari industrial park was attended by political and business heavyweights of the related countries, including Qatar’s ruler Sheikh Hamad Bin Khalifa Al-Than and Kim Chang-hee, the vice chairman of Hyundai E&C.
Shares of Hyundai E&C traded at 62,300 won on the Seoul bourse as of 11:40 a.m.
(Yonhap News)
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