[THE INVESTOR] POSCO Engineering Co. announced on June 16 that it has been awarded an LPG plant construction project from Indonesia’s state-run oil company.
The subsidiary of Korea’s largest steelmaker POSCO specializes in building industrial plant and infrastructure facilities.
The $140 million project, awarded to POSCO Engineering-Wijaya Karya (WIKA) consortium, will see the construction of LPG-related facilities including two storage tanks.
POSCO Engineering holds 50 percent stake in the consortium. The project is expected to take about 36 months, and completion is scheduled for 2019.
By Choi He-suk (cheesuk@heraldcorp.com)