Hyundai wins contract for fertiliser plants

A CONSORTIUM led by Hyundai Engineering has won a US$5.16bn bid to build fertiliser plants in Kozmino, Russia.

The consortium also includes Japanese engineering firm Toyo and Hyundai Engineering & Construction. Together they will build two ammonia production plants with a combined capacity of 6,700 t/d, two urea plants with combined capacity of 6,100 t/d, and a methanol plant with a capacity of 3,000 t/d.

The deal was signed following a meeting of the President of South Korea, Park Geun-hye and Russian President Vladimir Putin in Vladivostok.

The consortium was selected as a preferred bidder for the plants in September 2014, and was awarded the contract by Russia’s Nakhodka Mineral Fertilizers Factory, a subsidiary of the National Chemical Group.

In May 2014, the consortium – along with LG International – won a US$3bn EPC contract to build Turkmengaz’ gas chemical complex in western Turkmenistan.

Hyundai says the construction of the plants is scheduled to be completed in 62 months.