2020 RPME Top 30 EPC Contractors: Hyundai Engineering & Construction

Published: 21 April 2020 - 3 a.m.
By: Martin Menachery

In July 2019, Hyundai Engineering & Construction announced that it has signed $2.7bn contracts with Saudi Aramco to execute Package 6 and Package 12 of the Marjan Development Program. A contract signing ceremony was held at the Saudi Aramco Dharan Office in Saudi Arabia on 8 July with the attendance of officials from the two companies, including Amin H Nasser, president and CEO of Saudi Aramco, Ahmad A Al-Sa'adi, senior vice president, Saudi Aramco, and Mt Fahad E Al-Helal, vice president of project management, at Saudi Aramco. Hyundai Engineering & Construction officials included Lee Won-woo, vice president of the Plant Business Division, and Kim Hang-yeol, managing director of the Al Khobar branch.

Saudi Aramco is building an oil and gas refining complex in the Marjan area, about 250 km northwest of Dammam in eastern Saudi Arabia, to process the oil and gas produced in offshore fields. Package 6 is a project to expand the existing oil and gas separation facilities so that they can additionally process 300,000 barrels of oil and gas per day. Hyundai Engineering & Construction will carry out the project for $1.48bn, which will take 41 months to finish.

Package 12 is about building power and water supply facilities for a plant that processes 2,500 million standard cubic feet of gas per day (MMSCFD). The project costs $1.25bn and will take 41 months for completion. Meanwhile, Hyundai Engineering & Construction is carrying out six projects worth $1.4bn, including the construction of Usumania ethane recovery facility in Saudi Arabia. Hyundai Engineering & Construction won a contract valued at $746mn from Saudi Aramco to build an ethane deep recovery facility (EDRF). To win the mega-sized project, the builder entered a fierce competition with leading global construction companies. Korea’s primary builder obtained the EDRF project on the turn-key basis on 27 October 2016, which was attributed to the successful completion of the Karan gas treatment plant project in 2012 and the Khurais gas treatment plant project in 2009 in Saudi Arabia.

The EDRF project is aimed to construct a facility in which a demethaniser is employed to separate natural gas liquids, including ethane and propane from 1.4bn cubic feet of liquefied gas produced in the Uthmaniyah region for a day. The project is considered as an extension of the Uthmaniyah gas plant, which has operated in the area for over four decades. Hyundai Engineering & Construction has enjoyed the support and patronage of its customers for more than 60 years. In return, the company has delivered honest and transparent management.

To celebrate the new Hyundai spirit, all employees promise to fulfil the company corporate social responsibilities and take the lead in establishing a more open and honest management culture within the Korean construction industry. Hyundai Engineering & Construction introduced its ethical management programme in 2004 to reflect its CEO’s insistence that the employees live up to its corporate social responsibilities. Hyundai Engineering & Construction is proud to be part of a corporate culture in which ethical management is taken seriously.

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