Samsung unit wins $2.47b UAE plant order

Samsung Engineering Co., one of South Korea’s leading builders, said Friday that it has clinched a $2.47 billion order to build a petrochemical plant in the United Arab Emirates.

The company said it received a formal letter of agreement from Abu Dhabi Oil Refining Co., an affiliate of state-own Abu Dhabi National Oil Co., to build the carbon black and delayed coker facility in the industrial city of Rewais.

The city is located 240 kilometers west of Abu Dhabi city on the Persian Gulf.

Under the “lump-sum, turn-key” arrangement, Samsung Engineering will be in charge of the design, procurement and pilot operations of the facility. Work on the plant is scheduled to be completed by December 2015, with the CBDC to produce 40,000 tons of carbon blacks per year, and process 30,000 barrels of crude oil on a daily basis.

Samsung Engineering said it has won orders worth 10 trillion won ($8.6 billion) in the last five years from the UAE’s oil company, with the latest deal testament to the long-term partnership it has forged with the Middle East country.

The company is a coordinator for the greater oil refinery projects in Rewais, worth $10 billion. 

(Yonhap News)