Hyundai Engineering, the construction unit of Hyundai Motor Group, has been awarded a KRW290bn won ($273.2m) contract by Bangchak Corporation Public Company (BCP) for the expansion of a refinery in Bangkok, Thailand.
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Under the terms of the engineering, procurement and construction (EPC) contract, Hyundai Engineering will be responsible for the construction of continuous catalyst regeneration reformers at the refinery in the Phra Khanong district of Bangkok.
Hyundai said that the new facilities would allow the production of premium high-octane petrol at the refinery.
The firm will also replace old hydrocracking units at the oil refinery to boost the daily capacity from 25,000 barrels to 27,500 barrels.
Hyundai Engineering said in a statement: “We were able to clinch the deal as we had completed similar projects in Malaysia.
“We have 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.”
Hyundai, however, did not disclose the timeframe for the completion of the contract.
BCP operates the Bangchack refinery, which has production capacity of 120,000 barrels of oil per day. The output is distributed to more than 1,000 service stations across the country.
Bangchak refinery produces gasohol and diesel which meets the Euro 4 standard. It is claimed to be the first in Asia to produce gasohol E20 of the Euro 5 standard.
Earlier this year, Hyundai Engineering secured a $350m contract to upgrade an oil refining factory in Malacca, Malaysia.
The contract has been signed with the Malaysian Refining Company, a company affiliated with Malaysia’s state-run oil company, Petronas.
Pursuant to the contract, Hyundai will construct facilities to reduce the content of sulfur in diesel produced at the existing oil refining factory inside the complex in Malacca, Malaysia.
Hyundai Engineering is engaged in providing engineering solutions in a range of fields, including the process plant, power & energy plant, infrastructure and environmental sectors.