Saudi Arabia: Samsung Bags $650 Milion Petchem Plant Contract

Published April 15th, 2021 - 09:30 GMT
Saudi Arabia: Samsung Bags $650 Milion Petchem Plant Contract
Saudi Arabia: Samsung Bags $650 Milion Petchem Plant Contract
Highlights
The contract was awarded by Advanced Global Investment Company, a subsidiary of Saudi Arabia's Advanced Petrochemical Company.
Samsung Engineering Company, a leading engineering, procurement, construction, and project management (EPC&PM) company, said it has clinched a $650 million deal to build a petrochemical plant at Jubail Industrial City II in Saudi Arabia.

The contract was awarded by Advanced Global Investment Company, a subsidiary of Saudi Arabia's Advanced Petrochemical Company.

 
As per the deal, Samsung Engineering will build a propane dehydrogenation plant and utilities and offsites at Jubail Industrial City II on Saudi Arabia's eastern coast, stated Advanced Petrochemical Company in its bourse filing.
 
The plant, which is set to be completed in 2024, will produce 843,000 tonnes of propylene per annum with all required off-sites and utilities by utilizing Catofin technology from US group Lummus Technology, it added.

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