South Korean construction and trading firm Samsung Corporation recently won a $122 million contract for the construction of liquefied petroleum gas (LPG) tanks for Qatar's state-run petroleum company. Construction is to begin this month with the target date of completion set for May 2005, reported AsiaPulse.
The turnkey project calls for the construction of three 100,000 cubic meter LPG storage tanks and the renovation of two exiting tanks. Samsung will commission all of the construction phase work including the designing of the tanks, the purchasing of materials and test-runs.
The Korean firm beat out competitors for the deal including Japan’s IHI and TKK, US-based CBI and Belgium’s Tractebel. Established in 1938, the main business areas of Samsung Corporation include international trade, engineering and construction, housing development and retail. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
