S Korea wins $18.7bn overseas plant orders in H1
Seoul, July 9, 2007
South Korea has won $18.7 billion worth of overseas plant projects in the first half of 2007, mainly from building energy-related plants in the Middle East and Southeast Asia, the Energy Ministry said.
The amount is 73 per cent higher from the year-earlier period, and the ministry expects the figure to soar to a record $30 billion by the end of the year.
Plant orders from oil-producing countries rose to $10.6 billion from $3.1 billion in the same period last year, reflecting growing demand for petrochemical plants from the Middle East as they move away from being conventional crude-suppliers.
'Countries from the Middle East are finding more value in producing petrochemical products than just producing crude,' said the ministry in a statement.
Some of the major projects include a polycarbonate producing plant awarded to Daelim Industrial Co by Saudi Kayan Petrochemical Company worth $1 billion, and a $1.1 billion power generation plant awarded to Hyundai Heavy by Jubail Water and Power Company in Saudi Arabia. Reuters