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HHI wins order for Saudi Arabian power plant

SEOUL - South Korea's Hyundai Heavy Industries Co (HHI) said on Friday that it has won an order for the construction of a thermal power plant in Saudi Arabia.

The construction company said it won the order, valued at an estimated US$420 million (490 billion won), from Saudi Arabia's petroleum company Saudi Aramco, beating out other top competitors, including Japan's Mitsubishi.

The order was put out to tender by Japanese trading firm Mitsui & Co, according to HHI.

The construction company said it will be responsible for supervising the entire project, from design to test runs.

The 1,050-megawatt power plant will be constructed to supply electricity and steam to four regions near the Gulf Bay and will be equipped with three 300-megawatt and three 150-megawatt gas turbines as well as eight waste heat recovery boilers, the company said.

HHI said construction work will be completed by December 2006.

HHI, one of South Korea's major construction companies as well as the world's biggest ship builder, suffered a setback in winning plant orders last year, but is poised to win $1 billion in orders this year, according to the company.

(Asia Pulse/Yonhap)

Feb 21, 2004

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