GS Engineering wins 800 bln won in orders from Kuwait

SEOUL, Aug. 23 (Yonhap) -- GS Engineering & Construction Corp., South Korea's third-largest builder, said Tuesday that it has clinched two orders worth 800 billion won (US$741.8 million) to build electricity and oil facilities in Kuwait.
Under a deal with Kuwait Oil Company (KOC), valued at 600 billion won, GS Engineering will construct facilities to maintain pressure at oil wells in an oil field of Burgan, some 35 kilometers south of Kuwait City.
GS Engineering said it will equip some 90 wells out of 220 with the pressure-maintaining facilities by 2014.
Another 200-billion won contract with Kuwait's Ministry of Electricity and Water calls for building facilities, including a water-purification system and water pipes, according to GS Engineering. The facilities expected to have a daily processing capacity of 1.46 million tons of water will be completed by 2013, the builder said.
The South Korean company said the deal is the first water purification project that the builder has ever clinched.
GS Engineering also won a $556 million deal to build a gas storage facility in Kuwait in April this year.
Shares of GS Engineering were trading at 102,500 won on the Seoul bourse as of 2:40 p.m., up 6.22 percent.
brk@yna.co.kr