Hyundai Engineering Co., the construction arm under South Korea’s Hyundai Motor Group, announced on April 19 that it has signed an engineering, procurement and construction (EPC) contract with Bangchak Corporation Public Company Ltd. (BCP) for a 290 billion won (US$273.07 million) oil refinery project.
The project is to build continuous catalyst regeneration reformers and replace old hydrocracking units at the Bangchack refinery in the PhraKhanong district of Bangkok, the capital of Thailand. When the new facilities are completed and start operation, they 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.
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 gas stations across the country.
Hyundai Engineering has built up strong credentials having worked on various EPC projects with big petrochemical companies in Thailand, such as Siam Cement Group (SCG), PTT Group and Thai Oil Public Company.
An official from Hyundai Engineering said, “The extension and repair projects are difficult construction work that needs to smoothly connect the process of the new facilities with the existing ones. We were able to clinch the deal as we had successfully completed similar projects in Malaysia.”