Hyundai Engineering announced on April 28 that it has signed a basic design contract worth US$12 million for a methanol plant promoted by Russian private oil company Gaz Sintez.
The project is to draw up a basic design for a methanol production plant, utilities and auxiliary facilities in Visotsk, which is 875 km northwest of Moscow, Russia. The methanol plant will have a daily production capacity of 5,000 tons.
After drawing up a basic design for the plant for 13 months, Hyundai Engineering will build it in an engineering, procurement and construction (EPC) method. The entire project is estimated to exceed US$1 billion.
Hyundai Engineering emphasized that it has demonstrated the excellence of its design technology and EPC project execution capabilities.