GS E&C Wins $1 Bil. Refinery Construction Project in Turkey

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Wednesday, May 22nd, 2013

SEOUL, KOREA - GS Engineering & Construction has won a US$1,037-million project to build a refinery in Turkey. The company said on May 21 it has successfully landed a deal to build a refinery and other related facilities jointly with Tecnicas Reunidas, S.A. of Spain, Socar & Turcas Aegean Rafineri of Turkey, Saipem S.p.A. of Italy, and Itochu Corp. of Japan. The total volume of the refinery project is $3,456 million, of which GS E&C will be responsible for 30 percent of it.
 
GS E&C Wins $1 Bil. Refinery Construction Project in Turkey
 
The project calls for building an oil refinery plant to process a daily average of 210,000 barrels in Izmir, Turkey's third largest city 610 kilometers south of Istanbul. GS E&C will take the part of building facilities for naphtha and kerosene desulfurization process and other amenities. The total length of the construction will be 51 months including six months of pilot production.
 
A GS E&C official said, "The latest achievement was the result of the successful completion of previous three projects including the Izmir DHP project, the Izmit DHRP project, and the Kirikkale DHP-CCR project. It is more meaningful in that it was the first winning of a project since the establishment of the Turkish office last year."