Toyo and Hyundai Win LPU Project for Pearl GTL

Toyo Engineering Corp.

Toyo Engineering Corp. and Hyundai Engineering and Construction Co. Ltd. have jointly received a lump-sum contract for the engineering, procurement, and construction of a 140,000-bpd liquid processing unit (LPU) for Qatar Shell GTL Limited at Ras Laffan in Qatar.

The plant is scheduled to be completed in the second half of 2010. The LPU unit is one of the major components of the Pearl GTL Project and is designed to maximize Qatar's natural gas usage.

Toyo, the leader of the consortium, will perform basic engineering, major equipment procurement, and commissioning while Hyundai will undertake detailed engineering, equipment (other than major equipment), and bulk material procurement and construction work.