Monday, December 03, 2007

PetroVietnam awards EPC contract to Hyundai Engineering

Quang Ngai (ANTARA News/Asia Pulse) - A Huyundai Engineering-led consortium has been awarded the contract to build a polypropylene factory in the central province of Quang Ngai.

The Viet Nam Oil and Gas Group (PetroVietnam) signed an engineering, procurement and construction (EPC) contract with the consortium, led by Hyundai Engineering Co. Ltd (KSE: 00720) of the Republic of Korea, on November 29.

The 16-ha factory will be built at the Dung Quat Economic Zone with an investment of US$232 million. It will have an annual capacity of 150,000 tonne of polypropylene which will be used in the automobile, construction, electricity, and package processing sectors and for production of appliances for everyday life.