Daewoo Engineering & Construction (Daewoo E&C) signed a main contract for the Tangguh Expansion Ph2 project, an Indonesian LNG liquefied plant work, on April 22, exploring the new southern market.
Tangguh Expansion Ph2 is a high-level plumbing project of Cold Section for the construction of Tangguh LNG Train 3 liquefied plant located in the Bintuni Bay area of Papua Barat, western Indonesia. The construction cost is 50 million U.S. dollars (some 61.6 billion won).
The Tangguh LNG Train 3 project is the construction of an additional LNG train to produce 3.8 million tons of LNG annually. Currently, CSTS JO (Chiyoda, Saipem, PT.Tripatra, PT.SAE) is carrying out the EPC construction.
Although the size of the construction and the amount of orders are not significant, it has special significance for Daewoo E&C, which has entered the Indonesian LNG liquefied plant market for the first time.
Daewoo E&C, which has been pushing to explore new markets in Southeast Asia in line with the government's New Southern Policy, will be able to push to expand its market in the region based on construction experience gained here by making inroads into Indonesia through selection and concentration into the globally competitive LNG liquefied plant sector.
"The construction of Tangguh Expansion Ph.2 in Indonesia is small in amount and size, but it is meaningful in that it has entered the Indonesian LNG plant market for the first time through cooperation with Saipem, the original company of global LNG liquefied plants," a Daewoo E&C official said.
"Through this construction, we will build up our construction experience in Indonesia and push to expand the market to Southeast Asia, which is emerging as a new market," he added.
