FINANCIAL NEWS

Hyundai, Petrofac win $1.81b contracts in Kuwait

30 Jul 2010

(MENAFN) Kuwait Oil Company said it has awarded Hyundai Engineering and Construction Company and Petrofac contracts worth $1.81 billion to design and build pipelines.

The state-owned firm said Hyundai will build low sulphur fuel oil, fuel gas and gas oil pipelines from Mina al-Ahmadi refinery to Subbiya and Doha power stations. The project, worth $1.3 billion, will be completed by April 2013.

Petrofac will build fuel gas and gas oil pipelines plus a pumping station from the same refinery to al-Zour and Shuaiba power stations for $500 million. It is slated for completion on July 2012.

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