S.Korea's plant export orders hit record high in 2006

South Korean contractors got a record high foreign industrial plant orders worth 25.4 billion U.S. dollar in 2006, up 60.6 percent from the previous year, the South Korean Ministry of Commerce, Industry and Energy said in a report Monday.

The sharp annual increase comes as oil rich countries are using extra money earned from high prices to build industrial facilities, said Cha Dong-hyung, head of the export and import division at the ministry.

Among all the orders, large scale maritime plant orders occupies for 41 percent, or 10.6 billion U.S. dollars, the report said.

Petrochemical plants and power generation plants accounts for 19 percent and 18 percent of the total respectively, it said.

The ministry said plant export orders may reach 27 billion U.S. dollars with maritime infrastructure facilities, liquified natural gas and saltwater desalination facilities leading the growth in 2007.

Source: Xinhua