GS Engineering bags another GCC contract
South Korean company to build $700m wastewater plant for Bapco.
GS Engineering & Construction Corp on Friday announced it had been awarded a US$700 million contract to build a wastewater treatment facility for oil major Bahrain Petroleum Company (BAPCO).
The plant will treat wastewater from the Sitra refinery in Bahrain and is a part of Bapco’s efforts towards evolving a more environment-friendly production process, says GS.
As per the agreement, GS Engineering, which builds oil, gas and petrochemical plants as well as buildings, roads, bridges and harbours around the world, will build the facility by 2013, the South Korea’s second largest builder by market capitalisation said in a regulatory filing.
The contract is part of a growing regional order book. Early in the week, the company said it won a $1.31 billion order to build two thermal power stations in northern Oman along with German engineering giant, Siemens AG.
GS Engineering and the German company will build a 750MW power plant in Barka by April 2013, with both companies holding a 50 percent stake in the $680 million project.
The two companies will also complete a 750MW plant in Sohar within that timeframe.GS will own 43 percent of the project costing $630 million.
The company early this month said it had won a $620 million oil pipeline contract from the United Arab Emirates. GS will build a 910 km (565.4 miles) long pipeline for Takreer, a unit of Abu Dhabi National Oil Company, by 2014.