South Korea’s Doosan Heavy Industries & Construction said it has won a contract from compatriot Kogas to build storage tanks at the latter’s planned LNG import terminal in Dangjin.
Under the contract worth 610 billion won ($530.6 million), Doosan Heavy and local partner Kuil Construction will build four LNG storage tanks in the coastal city of Dangjin in South Chungcheong Province.
The power plant builder said in a statement it has a 90 percent stake in the consortium and its contract share amounts to 550 billion won ($478.4 million).
Moreover, Doosan Heavy said each of the LNG tanks would have a capacity of 270,000 kiloliters, making them the biggest in South Korea.
Doosan Heavy added construction would begin in August and last until December 2025.
State-owned LNG importer Kogas previously said it aims to build up to ten LNG storage tanks at the 11.6 mtpa Dangjin facility in two phases.
Kogas currently operates four large-scale LNG terminals, namely Incheon, Pyeong-Taek, Tong-Yeong, and Samcheok, as well as a small-scale regasification terminal at the Aewol port on Jeju island.
