Kuwait-Mubasher: A South Korean consortium led by Hyundai Engineering has won a $2.93 billion contract with the state-owned Kuwait National Petroleum Company (KNPC), according to Qatar News Agency.
The deal considers building a liquefied natural gas (LNG) import terminal in Al-Zour, 90 kilometers south of Kuwait's capital, Hyundai Engineering & Construction said. The investment group includes Hyundai E&C, Hyundai Engineering, and Korea Gas.
KNPC’s deal includes a share of $1.52 billion for Hyundai E&C, while Hyundai Engineering and Korea Gas have shares of $1.39 billion and $12 million respectively.
The construction period is expected to be 58 months which will be completed by 2020, Korea Times reported.
