Saturday, July 1, 2017

Korea's GS Engineering wins $865m Adnoc order

GS Engineering & Construction Company has secured a 1 trillion-won ($865 million) order from UAE-based Takreer to repair a fire-hit refinery plant at Ruwais, about 250 km of the UAE's capital city of Abu Dhabi, reported Yonhap News Agency.

As per the contract awarded by Takreer, a wholly-owned unit of Abu Dhabi National Oil Corporation (Adnoc), GS E&C will restore burnt parts of its oil-processing plant by early 2019, said the Yonhap report.

In 2009, the Korean group was awarded the contract to build the Ruwais plant and this was promptly completed in November last year. However, a fire in January destroyed the gasoline and propylene production facilities, it added.

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