HHI Won the Power Plant Contract for Saudi Arabia2006.04.11
Hyundai Heavy Industries (HHI) won a US$170 million-worth contract to build a gas turbine power generation plant for Saudi ARAMCO, the state-run oil company.
HHI will provide a turnkey service of engineering, procurement, start-up and commissioning of three 65MW gas turbine units and electricity facilities including switchyard which supply captive electricity to the Gas & Oil Separation Plant of Saudi Aramco to be located at Shaybah in Saudi Arabia. This project will be scheduled to be completed by 2008.
In 2004, HHI won a US$450 million turnkey contract for Aramco’s four co-generation plants (1,100MW) all to be handed over in this year. Each plant provides electricity and steam to oil and gas process facilities of Saudi Aramco, and composed of six 156MW and two 76MW gas turbine generator units, and eight heat recovery steam generators.
“This project has leveraged HHI’s position as a major EPC contractor of the power plant sector in the Middle East and increased HHI’s opportunities to compete for and win more projects in the region,”said Suh Young-kil, executive vice president in HHI’s Industrial Plant & Engineering Division.
Thanks to the rise in oil price, many Middle East and African countries have been making a huge investment to build infrastructures, particularly industrial and energy-related plants. Mr. Suh said, “HHI has successfully secured a ‘strategic positioning’ in the region by focusing on oil & gas and power plants, where HHI’s strengths in engineering, procurement, construction and commissioning are best utilized.”
This year HHI has set a new order target at US$14.9 billion, of which US$1.4 billion will be a new order target for the industrial plant division.