South Korea‘s leading builders said Monday they sealed a $12 billion package deal to upgrade and set up the latest oil refinery and petrochemical facilities in Kuwait.

The Clean Fuel Project, ordered by the Kuwait National Petroleum Co., calls for revamping eco-friendly production systems at the existing Mina Al Ahmadhi (MAA) and Mina Abdullah (MAB) facilities so that sulfur content of petroleum products will fall under 5 percent. The project also includes expanding combined oil refining capabilities from the current 715,000 barrels to 800,000 barrels per day.

The MAA and MAB facilities are located some 45 kilometers south of Kuwait City.

The five South Korean businesses taking part in the three-part project ― MAA, MAB 1 and MAB 2 ― have set up separate a consortium and two joint ventures with foreign firms to win the package deal. They announced in February that they had won the contract.

Of the South Korean companies, GS E&C and SK Engineering and Construction Co. joined forces with Japan’s JGC Corp. to win the MAA part, priced at 5 trillion won ($4.8 billion). (Yonhap)