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UPDATE 1-S.Korea GS E&C secures $3.1 bln UAE refinery project

Wed Nov 4, 2009 8:40pm EST

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SEOUL, Nov 5 (Reuters) - South Korea's GS Engineering & Construction (006360.KS) said on Thursday it had secured a $3.1 billion order to add a plant to the United Arab Erimates' Ruwais refinery, the biggest plant project ever won by a single Korean builder.

The order, awarded by the Takreer unit of Abu Dhabi National Oil Co (ADNOC), is for the construction of a residue fluid catalytic cracking unit in the Ruwais facility by January 2014, GS E&C said in a statement.

It came on top of a separate 1.4 trillion won ($1.2 billion) gas plant project in Ruwais that GS E&C won from Abu Dhabi Gas Industries (GASCO) last week.

South Korean construction companies have emerged as strong bidders for refinery and other energy facility deals in Middle East, thanks to strong track records and experience from past projects at home.

ADNOC plans to double the capacity of the Ruwais refinery, the UAE's largest, by 2014. [ID:nLF203983] ($1=1176.8 Won) (Reporting by Rhee So-eui; Editing by Jonathan Hopfner)

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