South Korea-based Daewoo Engineering and Construction Co (Daewoo E&C) has secured a QAR1bn ($274.6M) financial package from Qatar Islamic Bank (QIB) to fund its ongoing projects in Qatar, including the construction and upgrading of the E-Ring Road.
South Korea-based Hyundai Engineering & Construction (Hyundai E&C) has won a $735M contract from Saudi Aramco to construct a gas processing plant in Saudi Arabia.
A Hyundai Engineering-led consortium has secured a $5bn construction deal in Nakhodka, Russia.The consortium, which includes Hyundai Engineerng & Construction (E&C) and Japan’s Toyo Engineering, signed the deal with the Nakhodka Mineral Fertilizers Factory to build fertilizer plants in Kozmino, a port located near the city of Nakhodka.The consortium will be responsible for the construction of two ammonia production plants with a combined daily capacity of 6,600t, two urea plants with a combined daily capacity of 6,000t and one methanol plant with a daily capacity of 3,000t, according to Korea Times.The factories are expected to be complete within 62 months.
POSCO E&C has completed construction on a waste-to-power plant in Krakow, Poland.The plant, delivered for Krakow Communal Holding, was constructed in three and a half years.The $250M facility — the largest daily waste incinerating facility in Poland — is capable of processing 220,000t of household waste annually in an eco-friendly way.
POSCO E&C has started construction on a 380MW combined cycle power (CCPP) plant in Colon, Panama.The project will include the construction of a liquefied natural gas (LNG) CCPP plant, along with an 180,000cb m LNG storage tank to supply fuel at Colon — located near the Atlantic entrance to the Panama Canal — entailing an investment of $650M.The facility, set to be the largest of its kind in Panama, will generate enough electricity to power about 300,000 homes.Upon completion, the power plant will provide a stable supply of electricity to the industrial complex near Panama Canal and the Colon area.POSCO E&C CEO Han Chan-kun said: "The project is the result of efforts to establish trust with the ordering parties in Latin America over the past decade."It will be a great chance for us to showcase the high-quality construction technology of E&C across the world."The power plant will be completed in July 2018 and the LNG tank in May 2019.
Hyundai Engineering has begun construction on the $2.66bn Kandym gas processing plant in Uzbekistan.The South Korean company obtained orders for the front end engineering design (FEED) services for the Kandym gas field development in 2011, and received the engineering, procurement and construction (EPC) contract for Kandym gas processing plant in February 2015 from LUOC —a joint venture between Russia's Lukoil and Uzbekistan's state-run oil and gas company UNG.The processing plant is being constructed in the Kandym gas field, which is about 520km southwest from Uzbekistan's capital city Tashkent. When completed, the facility will have an annual production capacity of 8.2bn cubic metres, or 6.35m tonnes, of natural gas.The Hyundai Engineering's stake of the project is $2.01bn and construction work is expected to be complete in the first half of 2019.
South Korean firm POSCO E&C has secured a $650m EPC turn-key contract from Gas Natural Atlantico and Costa Norte LNG Terminal for the Colon combined cycle power plant and LNG terminal project in Panama.