11/24/2011

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QATAR: Hyundai completes Qatar project

Hyundai won the $1.3 billion contract from global oil and gas company Royal Dutch Shell in August 2006. The project was to build the world's largest GTL processing facility with a production capacity of 140,000 barrels per day at Ras Laffan, an industrial complex about 80 kilometers north of the Qatari capital of Doha.A completion ceremony was held Tuesday (22 Nov. 2011) at the industrial park with high-profile guests and business heavyweights in attendance, the company said. Among those who attended the ceremony were Qatar's ruler Sheikh Hamad Bin Khalifa Al-Thani, Qatari Energy Minister Mohammed Saleh Al Sada, Britain's Prince Andrew, Hyundai E&C Vice Chairman Kim Chang-hee and Peter Voser, CEO of Royal Dutch Shell."The successful completion of the high-tech liquid processing unit is a milestone in the history of Korea's construction business since Korean builders had largely been regarded for simple framework construction despite their active overseas businesses,” a Hyundai E&C official said."With this LPU plant, however, Korea's advanced construction technology has been heralded worldwide.”
Based on the success of the GTL project, Hyundai will further accelerate efforts to win more high-value contracts on plant projects, he added.

Source: Daily "Gulf Times", Doha; 24 Nov 2011

(Syed Rashid Ali, Karachi, Pakistan)

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