SEOUL, June 13 (Reuters) - Italian engineering group Maire Tecnimont SpA MTCM.MI and South Korea's GS Engineering & Construction 006360.KS have signed a joint $900 million contract to build an oil refinery plant in Russia.
The South Korean company said in a statement on Friday that its consortium with Maire Tecnimont had won the order from Taneco, a unit of Russian oil firm Tatneft TATN3.MM, with the Italian firm taking up $500 million.
The plant, to be located at Nizhnekamsk, Tatarstan, will have a capacity of 150,000 barrels per day and is targeted for completion by April 2011.
The Tatarstan project includes an aromatics complex with a capacity of 151,000 tonnes a year in paraxylene, a naphtha hydrotreater with 1.1 million tonnes capacity, a kerosene hydrotreater of 500,000 tonnes capacity and a diesel-hydrodesulfurisation facility of 1.6 million tonnes capacity.
With the Russian order, GS has racked up a combined $4.5 billion in overseas orders so far this year, topping its 2008 target of $3.9 billion.
Its shares rose 2.1 percent to 122,500 won by 0041 GMT, outperforming the wider market's .KS11 0.4 percent gain.
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Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner
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