 Construction is underway to build a gas-to-liquid facility at Ras Laffan, an industrial complex north of Qatari capital Doha, in this file photo. Hyundai Engineering & Construction completed Tuesday a liquid processing unit for the facility under a 2006 contract valued at $1.3 billion. / Courtesy of Hyundai E&C |
By Jung Sung-ki
Hyundai Engineering & Construction, the top builder in Korea, has completed construction of a liquid processing unit (LPU), one of the major components of Qatar’s Pearl gas-to-liquid (GTL) project, the firm announced Wednesday.
Hyundai won the $1.3 billion contract from global oil and gas company Royal Dutch Shell in August 2006. The project was to build the world’s largest GTL processing facility with a production capacity of 140,000 barrels per day at Ras Laffan, an industrial complex about 80 kilometers north of the Qatari capital of Doha.
A completion ceremony was held Tuesday at the industrial park with high-profile guests and business heavyweights in attendance, the company said. Among those who attended the ceremony were Qatar’s ruler Sheikh Hamad Bin Khalifa Al-Thani, Qatari Energy Minister Mohammed Saleh Al Sada, Britain’s Prince Andrew, Hyundai E&C Vice Chairman Kim Chang-hee and Peter Voser, CEO of Royal Dutch Shell.
“The successful completion of the high-tech liquid processing unit is a milestone in the history of Korea’s construction business since Korean builders had largely been regarded for simple framework construction despite their active overseas businesses,” a Hyundai E&C official said. “With this LPU plant, however, Korea’s advanced construction technology has been heralded worldwide.”
Based on the success of the GTL project, Hyundai will further accelerate efforts to win more high-value contracts on plant projects, he added.
Hyundai is leading a recent Korean boom in overseas construction markets, including the Middle East and Southeast Asia.
Earlier this month the company signed a $396 million contract with Iraq to build two plants in the war-torn nation, which is seeking to increase its electricity supplies.
It also won a $384 million contract for a geothermal project in Kenya. Under the contract, Hyundai and Toyota Tsusho of Japan will expand a geothermal power plant and build the Olkaria IV facility in the Olkaria district, around 100 kilometers northwest of Nairobi.
![[INTERVIEW] 'Money Heist: Korea' writer feels satisfied to expand series' franchise](https://img.koreatimes.co.kr/upload/thumbnailV2/e264f8d5589442489d72f9494ca3f1c7.jpg/dims/resize/178/optimize)
