Hyundai closing in on Gulf of Thailand return

Capacity: South Korean rig-builder Hyundai

BLOOMBERG

By TAN HWEE HWEE Singapore

 28 June 2012 22:59 GMT

SOUTH Korea’s Hyundai Heavy Industries is all set to make a comeback in the Gulf of Thailand where it is close to winning a prize contract to build a large gas compression platform for Carigali Hess Operating Company in Block A-18.

Hyundai is said to have submitted an aggressive bid in the tender for an engineering, procurement, construction and installation contract covering a facility that will weigh in at more than 25,000 tonnes. The South Korean giant was competing against other players with a regional presence — Singapore’s SMOE in a joint bid with Italy’s Saipem, Malaysia Marine Heavy Industries, Kencana Petroleum of Malaysia India’s Larsen & Toubro and Nippon Steel.

Hyundai’s commercial bid is said to have come in at more than $400 million, which other contenders found hard to match, according…

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