Construction company Hoar has been selected to build a $1 billion liquefied natural gas project in the state of New Zealand.

Hoar Construction is the only company to have entered into a partnership with New Zealand Energy Minister Steven Joyce, who will announce the winning bidders for the liquefying facility in New Plymouth this weekend.

The consortium includes Trillum Construction and the Blyth Group, which has an office in Auckland.

“It is fantastic news for the local and international communities in New South Wales,” Joyce said.

“We will see the benefits of a liquefaction project in a very short period of time and the long term economic benefit will be very significant for the region and New Zealand.”

The project will see Hoar, the world’s largest concrete construction company, use the liquified gas to construct a liquified natural gas export terminal at Lough Gully in New Britain.

The terminal will allow the company to export liquefyable natural gas to Asia.

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