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Korean HiSteel wins $12 million pipeline tender

South Korea's HiSteel has won a tender to supply line pipes worth $ 12 million to Italian engineering Saipem, the main contractor for the new Al-Zour oil refinery in southern Kuwait.

Korean HiSteel wins $12 million pipeline tender

The Al Zour refinery project, built for the Kuwait National Petroleum Company (KNPC), includes a new refinery and 37 petrochemical product storage tanks. HiSteel Co, based in Dangjin, south of Seoul, supplies the line pipes used to transport oil and its by-products from the refinery facility to storage tanks, the pipemaker's investor relations representative said.

HiSteel's official did not disclose the details of the pipes to be supplied, their size, quality or delivery time, saying only that the tonnage would be "greater than 10,000 metric tons." In the statement, it was stated that the contract period was extended from 27 June 2016 to 31 January 2017.

According to its website, HiSteel, founded in 1950 as Hanil Steel, operates a plant in Dangjin in hosting facilities for submerged arc welded pipes with a total capacity of 240,000 mt/year. The plant is located 6 km east of Hyundai Steel's Dangjin factory, which houses a hot-rolled coil and sheet factory.

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