Hyundai E&C wins $987.9 mln UAE power generation, desalination plant order
Published on by Water Network Research, Official research team of The Water Network in Business
SEOUL, July 3 (Yonhap) -- South Korea's largest builder, Hyundai Engineering and Construction Co. (Hyundai E&C), said Thursday it has won a US$987.9 million power generation and desalination plant order from the United Arab Emirates (UAE).
The company said the engineering, procurement, construction and turnkey order placed by the Abu Dhabi Water & Electricity Authority for the Mirfa plant was secured through a consortium made up of affiliate Hyundai Engineering Co. and Italy's Ansaldo.
The plant, located 110 kilometers southwest of Abu Dhabi, is currently undergoing refurbishment. The new building project includes a power generation plant that can make 1,600 megawatts of electricity and produce roughly 200 million liters of fresh water per day.
Hyundai E&C said that the actual construction should take 30 1/2 months.
The company will receive 72.4 percent of the order's total amount, or about $715.4 million. Hyundai Engineering will take $79.5 million.
Besides consortium members, France's GDF Suez Group is involved as the developer of the plant, which could lead to more orders down the line. The French conglomerate is the world's leading private power generation contractor.
The builder has accrued considerable experience in the building of desalination plants in places like Qatar over the years, with the latest order being its first water treatment work in the UAE.
The company said as of early July, it secured $6.71 billion worth of overseas orders, or 64 percent of the $11 billion in contracts it set out to win in 2014.
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