GS Engineering wins pipeline construction contract in Abu Dhabi6 September 2010
South Korea-based GS Engineering & Construction has won $690 million pipeline contract in Abu Dhabi, UAE.
GS Engineering & Construction has been named the lowest bidder among the seven bidders who had submitted commercial bids for the engineering, procurement and construction (EPC) contract on 25 August 2010.
The contract covers the construction of more than 900 kilometers of pipelines ranging from 10 to 28 inches in size. The main part of the deal covers 230 kilometers pipeline linking the Abu Dhabi refinery with Takreer's Ruwais refinery.
Abu Dhabi Oil Refining Company, the client on the project, has sent the letter of intent to the consortium on 26 August 2010.
GS Engineering & Construction had won over the price of around $700 from Paris-based Technip and China Petroleum Engineering and Construction Company followed by Italy's Saipem which bid $750 million to $790 million.
India-based Dodsal which bid around $800 million, the local Al Jaber Energy with a price of $881 million, a consortium of South Korea's Samsung Engineering & Construction Corporation with Lebanon's Construction & Trading which bid $884 million and $1,050 million price from South Korea's SK Engineering & Construction and the local National Petroleum Construction Company were the other bidders.