GS E&C Consortium contracts KRW 1.1 trillion for the IRPC UHV Project in Thailand. The project involves engineering, procurement, and construction of an aromatics plant with a capacity of 24,000 barrels per stream day, fluidized catalytic cracking unit with 20,000 barrels per stream day, hydrogen plant with 20 million standard cubic feet per day capacity, and sulfur recovery unit with 100 tons per day capacity. The 35-month project is located at IRPC's complex in Rayong, Thailand and will contribute KRW 230 billion annually to GS E&C's revenue. GS E&C was awarded the contract due to its successful experience with previous PTT and IRPC projects.

1. GS E&C Consortium contracts KRW 1.1 trillion,
IRPC UHV Project in Thailand.
(Upstream Project for Hygiene & Value Added Products)
INVESTOR RELATIONS
Oct. 2012
www. gsconstir.co.kr

2. 1. Project Overview
Project
IRPC UHV(Upstream Project for Hygiene
& Value Added Products) Project
Client
IRPC Public Co. LTD
Affiliate of PTT Thai National Petro Chemical Company
Overview
- EPC Lump Sum Turnkey
- ARDS 24,000BPSD / RFCC 20,000 BPSD
H2 Plant 20 MMSCFD / SRU 100 T/D
ERU (Ethylene Recovery Unit) / U&O, etc.
Overview Location
IRPC UHV Project
EBSM
1 / 2
ERU (Ethylene Recovery Unit) / U&O, etc.
Contractor Consortium (GS 60% : SK 40%)
Financing
Source
Client Own Fund
Contract
Amount
KRW 1,121 bn (GS E&C 673 bn)
Period 35 Months
IRPC Port
Thai, IRPC PRP
Thai, ATC
Aromatics
Thai, HMC PP
Saudi EVA
2010 ~ 2012
2005 ~ 2008
2007 ~ 2010
2010 ~ 2013
Refinery
Project
Experience
LSTK
LSTK
LSTK
LSTK
Payment
Raw
Material &
F/X Risk
• Overseas construction insurance
• Advanced payment(10%) and progress /
milestone payment
• Contingency cost for raw-material fluctuation
• Forward deal contracts for hedging F/X risk

3. 2. Prospect
• IRPC UHV Project is a KRW 1,121 bn EPC
project, ordered by IRPC Public Co. LTD
(Affiliate of PTT Thai National Petro Chemical
Company) located at Rayong complex which is
180km away from Bangkok. Over the next 35
months, GS E&C with SK E&C will execute the
whole process of engineering, procurement
and construction. This project will contribute
to increase annual revenue by KRW 230 bn.
•Solid relationship built upon trust from the
successfully completed PTT and IRPC projects
2/2
<Oman, Sohar Aromatics Project>
successfully completed PTT and IRPC projects
(HMC PP, PTT LNG terminal and IRPC
Propylene), GS E&C was able to become a first
Korea EPC Contractor executing a DCC (Deep
Catalytic Cracking) process method Propylene
Project using high sulfur residue.
•GS E&C has proved its competitiveness as a
top tier EPC contractor in refinery plant and
with this DCC process method propylene
project experience, GS E&C expects to acquire
new projects from various clients throughout
the world.