Hyundai Engineering and Hyundai Construction Win 3.2 Trillion KRW 'Japura Gas Plant' Contract

Hyundai Engineering and Hyundai Construction announced on the 24th that they have signed a $2.4 billion (3.2 trillion KRW) contract for the 'Jafurah 2 Gas Plant Package 2' project with Saudi Aramco.

Key officials attending the contract signing ceremony on the 23rd are signing the contract. From the left in the first row: Hong Hyun-seong, CEO of Hyundai Engineering; Wail Al Jafari, Vice President of Aramco; Yoon Young-jun, CEO of Hyundai Construction. From the left in the second row: Amin Al Nasser, CEO of Aramco; Majid Al Hogail, Saudi Minister of Housing; President Yoon Seok-yeol; Won Hee-ryong, Minister of Land, Infrastructure and Transport; Khalis Al-Falih, Saudi Minister of Investment; Saleh Al-Jasser, Saudi Minister of Transport.
[Photo by the Office of the President of the Republic of Korea]

This project will be developed right next to the site of the 'Saudi Jafurah Gas Processing Facility Project (Phase-1)', which Hyundai Engineering and Hyundai Construction Joint Venture (Hyundai Engineering JV) won in 2021. It involves constructing additional facilities to process gas produced from the Jafurah gas field, including sulfur recovery units.

Among these, Hyundai Engineering JV will be responsible for the sulfur recovery unit package and utility infrastructure. The contract amount is approximately $2.3 billion (about 3.1 trillion KRW).

Location map of the 'Japura 2 Gas Plant Package 2' project.
[Photo by Hyundai Engineering]

Hyundai Engineering and Hyundai Construction have been creating synergy by working as a team on numerous large-scale plant projects.

In addition to the Saudi Jafurah Gas Processing Facility Project, they have successfully executed projects such as Kuwait’s 'Al-Zour LNG Import Terminal Project' and Iraq’s 'Karbala Refinery Project'. Furthermore, the 'Shaheen Petrochemical Project' for S-Oil, which was awarded last November, held its groundbreaking ceremony in March this year, marking the official start of the project.

A Hyundai Engineering official stated, “The award of this Jafurah gas processing facility expansion project is a result of recognition of our world-class technology and excellent capabilities in engineering, procurement, and construction (EPC). Based on our technology and experience accumulated from previous projects, we will successfully carry out this expansion project and establish an even stronger position for future additional orders.”

Meanwhile, the contract signing ceremony for the Saudi Jafurah Gas Processing Facility Project, held as part of the '50th Anniversary of Korea-Saudi Construction Cooperation' event, was attended by President Yoon Suk-yeol and Minister of Land, Infrastructure and Transport Won Hee-ryong, along with Hyundai Engineering CEO Hong Hyun-sung and Hyundai Construction CEO Yoon Young-joon.

In Saudi Arabia, Majid Al-Hogail, Minister of Housing; Khalid Al-Falih, Minister of Investment; Saleh Al-Jasser, Minister of Transport; and Amin Al-Nasser, CEO of Aramco, attended the event, raising expectations that this contract will play a significant role in economic cooperation between Korea and Saudi Arabia.

This content was produced with the assistance of AI translation services.