Hyundai wins $926m fertilizer order from Qafco

03 December 2007 04:53  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea’s Hyundai Engineering and Construction signed a contract valued at won (W) 855.4bn ($925.5m) with Qatar Fertilizer Co (Qafco) on Sunday to build a fertilizer project, a Hyundai spokesman said.

 

The project would take 40 months, he said, adding that Hyundai had yet to receive notice from the client on when work would begin.

 

Last month, Qafco, a subsidiary of Industries Qatar, said it has signed a letter of intent with a consortium led by Italy’s Snamprogetti and Hyundai for the construction of the Qafco-5 expansion project.

 

Costing a total of around $3.2bn (€2.2bn), the facilities to be constructed include two ammonia plants with a daily production capacity of 2,300 tonnes each and a urea plant with daily production capacity of 3,850 tonnes, along with other support utilities.

 

($1 = W924.22/ €0.68)

By: Jeanne Lim
+65 6780 4359

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