Korea’s Samsung Engineering said it won a US$700 million contract from SABIC’s manufacturing unit Jubail United Petrochemical Company for a petrochemical plant in east Saudi Arabia.
Estimated to produce 700,000 million tonnes per annum (MTPA) of ethylene oxide–ethylene glycol, the project will be built within the Jubail Industrial City, with construction planned to finish in 2020, Samsung said in a statement.
Saudi Arabia is making strides to develop its refining industry as it looks to move away from crude oil export dependency.
Samsung Engineering said it has so far delivered 16 plant globally, while Samsung has delivered 27 projects in Saudi Arabia, with 22 for SABIC related companies.
"We are eager to provide the finest plant for Saudi Arabia. With JUPC’s trust and our proven track record in EO/EG plants and Saudi Arabia we will provide the best services possible and looking forward to work with United with many further years to come,” said a Samsung Engineering spokesperson.