A group led by Hyundai Engineering & Construction Co., South Korea's largest contractor, was awarded an order to build a US$1.2 billion ethylene plant in the Iranian city. The olefin plant will consist of two facilities with a production capacity of 1.2 million metric tpa of ethylene each.
National Petrochemical Co. (NPC), Iran's state-run petrochemicals company, awarded the project to Hyundai Engineering together with Linde AG, Germany's largest maker of industrial gases, and Iran's Sazeh Consultants. Hyundai Engineering's share in the contract is US$567 million and Linde's share amounts to US$476 million. With this project, Hyundai Engineering's orders in the first six months of this year total to US$2 billion.