Hyundai Engineering & Building (Hyundai E&C) has secured a contract price Won4.39tn ($3.16bn) to assemble a seawater remedy plant in Iraq.
This undertaking kinds a part of the Widespread Seawater Provide Challenge, which goals to boost crude oil manufacturing in Iraq’s southern oil fields by injecting seawater into oil reservoirs.
The power could have a every day processing capability of 5 million barrels and can be positioned at Khor Al Zubair Port, located round 500km south-east of Baghdad.
The freshwater generated from this plant can be directed to close by oil fields, together with West Qurna and Rumaila.
This initiative entails joint funding from France’s TotalEnergies, QatarEnergy LNG, and Iraq’s Basra Oil Firm.
Hyundai E&C anticipates that the development can be accomplished inside 49 months.
This contract is claimed to signify Hyundai E&C’s most vital undertaking in Iraq, following the completion of a $6bn oil refinery in Karbala in 2023.
In an official assertion, Hyundai E&C mentioned: “This contract was primarily pushed by the sturdy belief positioned in Hyundai E&C, which has carried out main nationwide initiatives in Iraq through the years, contributing to financial progress regardless of challenges equivalent to wars and Covid-19.”
In 2023, Hyundai E&C and Hyundai Engineering commenced building of one of many world’s largest petrochemical amenities in Ulsan, South Korea.
The bottom-breaking ceremony was held in February, with completion anticipated in 2026.
The Shaheen undertaking, developed by S-OIL, a subsidiary of Saudi Arabia’s Aramco, is being constructed at S-OIL’s Ulsan refinery with an funding of Won9.26tn.
“Hyundai E&C wins $3.1bn contract for seawater remedy plant in Iraq” was initially created and revealed by World Building Community, a GlobalData owned model.
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