Gasco awards construction deals to Hyundai and GS Engineering
Monday, 02 Nov 2009
Abu Dhabi Gas Industries has closed 2 deals with South Korean construction companies.
South Korea's Hyundai Engineering & Construction announced that it had won USD 1.72 billion construction deal from the UAE. Hyundai said in a disclosure to the Korea Exchange that it had signed the deal with Abu Dhabi Gas Industries. The agreement includes plans to build sulphur storage, wastewater treatment facilities.
A second company, GS Engineering and Construction said that it had secured KRW 1.4 trillion order from Gasco. The order is part of a train project and will be completed by July 2013.
Gasco is a JV between Abu Dhabi National Oil Company, Shell, Total and Partex Oil and Gas. The company is one of the biggest industrial complexes in the UAE and one of the largest gas processing companies in the world, with a process capability in excess of 5,300 million standard cubic feet of gas per day, producing 230,000 barrels of condensate, 4,700 tonnes of sulphur and over 20,000 tonnes of natural gas liquids per day.
The 2 new contracts are following a recent order to South Korea by Ruwais Fertilizer Industries also a subsidiary of Adnoc.
Fertil said that it awarded Samsung Engineering USD 1.2 billion order to develop a fertilizer plant in Ruwais, 250 kilometers west of Abu Dhabi.
Ties between the UAE and South Korea got a boost when Mr Han Seung soo PM of South Korea was on 3 day official visit to the UAE last June.
