Hyundai awarded US$210 mln deal to build petrochemical plant in Saudi Arabia

20-Dec-07
South Korea's Hyundai Engineering Co. Ltd. (HEDC) has been awarded an order to build a petrochemical plant in Saudi Arabia for about $210 mln. As per the deal, the unlisted unit of Hyundai Engineering and Construction Co. would build an ethyleneamines plant jointly with Hanwha Engineering & Construction Corp. To win the deal for the Amines project, Hyundai and Hanwha team beat competition from CTCI of Taiwan, and a joint venture of Aker Kvaerner of Norway and Sinopec of China. Amines is an equal joint venture of Al-Zamil Group and Huntsman Corporation of the US.
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