Hyundai E&C wins big refinery order from Saudi Arabia

Hyundai Engineering & Construction, a leading Korean builder, said yesterday that it has won a $1.5 billion alumina refinery order in Saudi Arabia.

The deal, awarded by Saudi Arabia’s state-run Ma’aden Bauxite Alumina and U.S.-based Alcoa, calls for the building of a refinery that can process 1.8 million tons of the aluminum by-product each year.

Construction of the plant located 90 kilometers (56 miles) northwest of Jubail on the eastern coast of the Middle Eastern country is to be completed in 27 months. Alumina is used to make electronic parts, heat-resistant and grinding materials, and catalyzers.

Hyundai Engineering & Construction said it will be responsible for designing the refinery, purchasing components, construction and pilot operations of the plant after completion.

“We secured the order based on our proven track record in the building of various energy and industrial plants,” the builder said. “The latest deal will further help Hyundai secure building contracts in the future.”

Hyundai E&C secured just $4.7 billion worth of overseas orders last year, placing it fifth among local construction companies.