AKIPRESS.COM - Hyundai Engineering signed a contract to take on the Kandym Gas Plant project in Uzbekistan worth US$2.66 billion, according to Business Week Korea.

The project is to build an 8.1 billion square meter facility for processing natural gas from the Kandym gas field, which is about 520km southwest from Tashkent, the capital of Uzbekistan.

The total amount for the project is US$2.01 billion, which includes engineering, procurement, and construction. It is scheduled to be completed by the second half of 2018.

Hyundai Engineering made a much stronger position in the plant market of Central Asia by closing this contract.

Hyundai Engineering first entered the Uzbekistan plant market in 2011 by obtaining orders of front end engineering design (FEED) services worth US$230 million for Kandym Gas Field development. Since then, it has raised awareness through successful project completion, and conducted a total of five projects worth US$4.098 billion so far, including this one.