Hyundai Engineering seals $273mn refinery deal in Thailand

2018.04.19 14:59:26 | 2018.04.19 15:48:13

Hyundai Engineering CEO Sung Sang-rok (left) and BCP CEO Chaiwat Kovavisarach at BCP headquarters in Bangkok, Thailand on Wednesday. <br><br>[Photo provided by Hyundai Engineering] 이미지 확대

Hyundai Engineering CEO Sung Sang-rok (left) and BCP CEO Chaiwat Kovavisarach at BCP headquarters in Bangkok, Thailand on Wednesday.

[Photo provided by Hyundai Engineering]

Hyundai Engineering Co., the construction unit under South Korea’s Hyundai Motor Group, won a 290 billion won ($273.2 million) refinery project from a major Thai energy company, the latest in a string of deals it has struck in the region.

The Korean builder said Thursday it signed an engineering, procurement and construction contract with Bangchak Corporation Public Company Ltd. (BCP) to build continuous catalyst regeneration reformers and replace old hydrocracking units at the oil refinery in the Phra Khanong district of Bangkok.

The new facilities would allow the production of premium high-octane petrol while the replaced hydrocracking units would boost the daily capacity of the refinery from 25,000 barrels to 27,500 barrels, according to Hyundai Engineering.

BCP is one of Thailand’s major energy companies, with its Bangchack refinery producing 120,000 barrels of oil per day that are distributed to more than 1,000 service stations across the country.

Hyundai Engineering said it was able to clinch the deal as it had completed similar projects in Malaysia. The company has also built up strong credentials having worked on various EPC projects with big petrochemical names in Thailand, including Siam Cement Group, PTT Group and Thai Oil Public Company, it added.

By Lee Ji-yong and Kim Hyo-jin

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