Hyundai Engineering Wins Basic Design Contract for Indonesia's Largest Petrochemical Plant
Hyundai Engineering announced on the 15th that it has signed a FEED (Front-End Engineering Design) contract for the EPC-linked basic design of the 'TPPI Olefin Complex Project' commissioned by Indonesia's state-owned oil company, PT PERTAMINA.
This project involves constructing a large-scale petrochemical complex producing 700,000 tons per year of high-density polyethylene (HDPE) and linear low-density polyethylene (LLDPE), 300,000 tons per year of low-density polyethylene (LDPE), and 600,000 tons per year of polypropylene (PP). The total construction scale is approximately KRW 4.8 trillion, making it the largest petrochemical plant project in Indonesia.
The FEED & EPC bidding process requires selecting the most suitable licensor, along with expertise in basic design and project execution capabilities, demanding advanced basic design skills. Hyundai Engineering, as the consortium leader, is leading Italian company Saipem and local Indonesian firms to carry out the basic design, securing a strong position to win the EPC (Engineering, Procurement, and Construction) contract scheduled for next year.
A Hyundai Engineering official stated, "We are smoothly progressing with the Balikpapan Refinery Project, the largest single-scale project in Indonesia's history commissioned by Pertamina in 2019," adding, "We are also on the verge of securing additional orders for this project commissioned by the same client."
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Meanwhile, Hyundai Engineering has been achieving market diversification by continuously winning mega projects in Europe and the Middle East this year. In May, it secured the 'PKN Olefin Expansion Project' in Poland worth approximately KRW 2.7 trillion, and in November, it won the 'Saudi Jafurah Gas Processing Facility Project' valued at KRW 2 trillion. Additionally, it has won FEED projects in Russia, the United States, and Malaysia, carrying out basic design work.
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