Regional LNG: LG Engineering wins LNG plant order

LG Engineering & Construction Corp., a major Korean builder, said Friday that it has clinched a 287.2 billion won ($250 million) order to expand a liquefied natural gas plant near Seoul, the Korea Herald reported.

The construction arm of LG Group, the country's No. 2 conglomerate, will team up with two other heavyweights - Hyundai Engineering & Construction Co. and Samsung Corp. - to rev up the plant in Incheon, about 40 kilometers west of Seoul.

The LNG production facility is owned by Korea Gas Corp., the country's state gas monopoly.

LG Engineering will earn 114.7 billion won, or 40 percent of the value, while Hyundai will receive 33 percent, or 94.8 billion won, and Samsung 77.6 billion won, or 27 percent. (*)