Friday, May 17th, 2013
SEOUL, KOREA - GS Engineering & Construction has won a 411-billion-won project to build a liquefied natural gas terminal in Boryeong, South Chungcheong Province. The contractor said on May 15 that it had held a contract signing ceremony on the previous day after landing the deal jointly with SK Engineering & Construction. Commissioned by Boryeong LNG Terminal Corp., the 759-billion-won contract will be split in the share of 54.15:45.85 between GS and SK.
The terminal will be located in the 1.08-square-kilometer site within the Yeongbo Industrial Zone in Boryeong with facilities including three 200,000-kiloliter (52.8-million-gallon) LNG storage tanks, a 45,000-ton LPG tank, and a regasification plant. The construction will continue for 42 months until September 2016.
A GS E&C official said, "With the winning of the Boryeong LNG terminal project, we could become one of the best contractors in the LNG terminal construction area. We will seek to expand the market for LNG terminals by pursuing opportunities overseas in this area. Boryeong LNG Terminal Corp. is a private company established jointly by GS Energy and SK E&S.