Hyundai Engineering wins W2.17B deal in Indonesia

Hyundai Engineering, a major Korean industrial plant builder, said Monday it has won a $2.17-billion deal to upgrade a refinery plant in Indonesia.

Under the deal with Indonesia’s state-run PT Pertamina, Hyundai Engineering will take part in Indonesia Balikpapan Refinery Development Project that aims to revamp oil processing facilities in Balikpapan, East Kalimantan, some 1,000 kilometers northeast of Jakarta.

Hyundai Engineering said it will be responsible for the engineering, procurement and construction for the facility upgrade, which will increase the plant’s oil-refining output from 260,000 barrels per day to 360,000 barrels per day. The company said it is expected to take 53 months for the completion.

With the latest order, Hyundai Engineering said it has secured $4 billion worth of orders overseas.

Yonhap