Samsung C&T Corp., South Korea’s largest builder and trading company, said Monday that it has won a $459.9 million contract to build a liquefied natural gas terminal in Malaysia.

The deal signed with Malaysia’s Petronas Gas Berhad calls for the company to take charge of the design as well as the actual construction of the terminal.

The new facility, part of the Pengerang project, will be located in Johor province and have two 200,000 cubic meter LNG storage tanks and related regasification facilities. Once built, it will be used to supply LNG to nearby petrochemical industrial complexes and a combined heat and power plant.

Samsung formed a consortium with Malaysian builder STS to secure the contract valued at $486 million. Work on the terminal, located 300 kilometers southeast of Kuala Lumpur, will be completed by April 2018.

The company said the plant’s design phase is being handled by Whessoe, which it bought in March. The Britain-based firm is considered a global leader in LNG construction designs.

“With Malaysia and Singapore striving to create an energy hub, there is considerable room for growth in the LNG storage sector,” a Samsung C&T official said. (Yonhap)