KOREA’S Hyundai Engineering, GS Engineering and Hyundai Heavy Industries have won a combined $3.9-billion order to construct gas facilities in the Habshan region of the UAE.
It is the latest in a series of mega deals Korean companies have clinched in the Middle East region.
Hyundai Engineering & Construction won a $1.7-billion gas plant order from state-run Abu Dhabi Gas Industries (Gasco), the company said in a statement.
Hyundai Engineering's project involves building facilities related to storage, wastewater treatment and power. It will take 44 months to finish the construction.
Last month, the builder completed construction of gas processing facilities in Saudi Arabia’s Khurais field. Hyundai Engineering won a $1.9-billion order from Saudi Aramco to build gas processing facilities in Saudi's Karan gas field early this year.
GS Engineering & Construction, another Korean builder, also won a combined $2.2-billion order from Gasco to build gas facilities in the same region of the UAE. It has formed a consortium with UK-based Petrofac for the project.
GS Engineering has a 55 per cent interest worth $1.2 billion in the gas facilities construction project, company officials said. The facilities, when completed in 48 months, are going to separate the gases into ethane, propane and butane, the company said.
GS Engineering said it will participate in all construction processes ranging from the design to purchase to construction to test operation.
Hyundai Heavy Industries, the world’s largest shipbuilder, won a $1-billion gas plant order in the same gas field in the country, the company said.
Out of the five gas facilities construction projects in Habshan, three have been awarded to Korean companies.
Last month, three other Korean builders – Daelim Industrial, SK Engineering & Construction, and Samsung Engineering – received a combined $2.8-billion order from Saudi Arabia to build a refinery and petrochemical plant complex. Samsung Engineering also recently won a $2.6-billion order to revamp an oil refinery in Algeria.