GS, SK E&C announce a project worth $680 million

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GS, SK E&C announce a project worth $680 million

GS E&C and SK E&C have secured a construction project of a private-funded LNG (liquefied natural gas) terminal in Boryeong, South Chungcheong, worth 759 billion won ($680 million).

According to GS E&C, the company will be responsible for 54.15 percent of the project, receiving 411 billion won, while SK E&C will take care of the rest.

The LNG terminal will be built on 1.08 million square meters (266.8 acres) of land inside Youngbo Industrial Complex in Boryeong with three 200,000-kiloliter (52.8 million gallons) LNG storage tanks, a 45,000-ton LPG tank and other facilities. It is expected to be completed by September 2016.

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