Looking to Win Capital Relocation Projects
Hyundai Engineering has landed a US$360 million order related to the Balikpapan oil refinery project in Indonesia.
The company will build a sulfur recovery unit (SRU) and a hydrogenation manufacturing unit (HMU) at the Balikpapan oil refinery in Indonesia. Hyundai Engineering's share of the order is about US$230 million (64.6 percent).
An SRU recovers sulfur from hydrogen sulfide generated during crude oil refining, and an HMU produces high purity hydrogen and supplies it to refinery facilities.
Hyundai Engineering could land the order as its technology and project management capabilities were duly recognized by Pertamina, which is promoting the US$4 billion oil refinery project, the company explained.
The Balikpapan oil refinery is located near Kalimantan, the new capital of Indonesia, so the project is expected to enhance Hyundai Engineering’s reputation in Indonesia and help the Korean contractor land additional projects related with the relocation of the Indonesia's capital.