Saudi Arabia: Samsung Engineering gets US$300mn Air Separation project order
Samsung Engineering has received another overseas project from Saudi Arabia. Including this award, Samsung Engineering has obtained a total of 4 awards in the month of July alone, which include the Algeria Skikda refinery, Saudi Aramco-Total Jubail Export Refinery package #3 and #4.
Samsung Engineering (President and CEO Yeon-Joo Jung) stated on July 25th that the company was awarded a 300 million USD project for an Air Separation Unit (ASU) from NIGC (National Industrial Gases Company), the subsidiary of Saudi Basic Industries Corporation (SABIC).
Located in Al-Jubail, Saudi Arabia, the Air Separation plant would produce gaseous oxygen (3,550 ton/day), nitrogen (3,600 ton/day) and argon (150 ton/day) from compressed air through a cryogenic separation process.
Samsung Engineering will execute the licensing, engineering, procurement and construction under a Lump-Sum Turn Key basis and the plant is scheduled to be completed in 2011. This is the 8th project with SABIC, a result of quality project completion within schedule that has strengthened Samsung Engineering's credibility with SABIC. Specifically for the ASU project, Samsung Engineering was able to rise above notable EPC competitors based on proven capabilities shown through previous project experience with SABIC.
In early 2009, SABIC presented its ‘Vision 2020' in which they plan to invest approximately 50 billion USD to increase its petrochemical production by 130 million t/y. Strengthening its long-term partnership with SABIC, Samsung Engineering is devoted to continuing project awards.
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