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Hyundai Heavy Industries wins $2 Billion US Dollars order from Total Congo

South Korea: Hyundai Heavy Industries Co., South Korea's leading shipbuilder has secured a US$2 billion deal to build two offshore facilities for France-based Total SA.

Under the deal with Total's South African affiliate Total Congo, Hyundai Heavy will build a floating production unit for $1.3 billion and an offshore platform for $700 million.

The two facilities will be installed in the Moho Nord oil field, about 80 kilometers from Pointe-Noire, a southern coastal city in Congo.

The floating production unit, 250 meters long and 44 meters wide, can process 100,000 barrels of crude oil and 2.5 million cubic meters of natural gas a day. The facility will be completed by the first half of 2015.

Hyundai Heavy has clinched orders worth $3.2 billion so far this year to build offshore facilities. The shipbuilder, also the world's largest shipyard, is targeting to win $6 billion worth of orders for offshore facilities this year.

Yonhap News Agency

HYUNDAI HEAVY INDUSTRIES HAS RANKED WORLD TOP 7 OF MOST ADMIRED COMPANIES 2013 IN INDUSTRIAL AND FARMING EQUIPMENT BY FORTUNE.

GEEL, BELGIUM – MARCH – FORTUNE MAGAZINE PUBLISHED IN THEIR LATEST MARCH 2013 ISSUE THAT IN THE INDUSTRY GROUP “INDUSTRIAL AND FARMING EQUIPMENT”, HYUNDAI HEAVY INDUSTRIES (HHI) HAS CLIMBED FROM NO.13 IN 2012 TO NO.7 IN 2013.

The Most Admired list is the definitive report card on corporate reputations. Companies from the Fortune 1,000 (U.S. companies ranked by revenue) and Fortune’s global 500 (incl non-U.S. companies with revenue of $10 billion or more) have been asked to list their most admired companies.

Based on this list Fortune has asked executives, directors, and analysts to rate companies in their industry on nine criteria, from investment value to social responsibility.

The No. 7 position in the Fortune List 2013 is based on the 2012 performance and a clear recognition for the Hyundai Management Philosophy of “creative wisdom”, “positive thinking” and “unwavering drive” that results in the global successes of today and tomorrow.

 

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