Hyundai Heavy Industries (HHI) was awarded a contract amounting to US$420 million to build a 1,050MW co-generation power plant from Saudi Aramco, a state-run oil company in Saudi Arabia.
HHI will construct the power plant on a turnkey basis including engineering, procurement, manufacturing, shipping delivery, installation, and commissioning. The project will be completed by December of 2006.
This Co-generation Power Plant will be constructed to provide electricity and steam for oil and gas refinery plants in four regions of the Arabian (Persian) Gulf. The power plant is composed of 3 units of 300MW
gas turbine, one unit of 150MW gas turbine, and 8 units of heat recovery steam generator (HRSG) boiler.
For this bidding, HHI was highly evaluated for its technological capability and experience of the project performance shown in MeKKa-Taif Thermal Power Plant Project and Eelctrostatic Precipitator (ESP) Project for the desalination and power company, SWCC, in Saudi Arabia.
Since its starting industrial plant business in 1975, HHI has consistently accumulated performance experience and technologies in the power plant sector. In HHI's performance records in power plant sector are included Meghnaghat CCPP project and Haripur CCPP project in Bangladesh, and power plant projects in Korea such as Incheon Airport CCPP project, Hyundai Petrochemical CCPP project, Hyundai Electronics CCPP project, etc.
For 2004, HHI's Industrial Plant & Engineering Division targets $1.0 billion of orders in power plant, desalination plant and oil & gas refinery plant project in overseas market.
