After receiving USD 1.2 billion USD Fertilizer plant order last month from FERTIL, Samsung Engineering has once again obtained a mega plant order in the region.
On November 20th 2009, Samsung Engineering stated that it had been awarded USD 2.73 billion contract from Abu Dhabi Oil Refining Company for the Utilities & Offsite package 3 of the Ruwais Refinery Expansion Project.
Set for mechanical completion by April 2013, the package 3 unit is expected to supply utilities into the complex which is expected to produce another 400,000 barrels of oil. Samsung Engineering will perform engineering, procurement and construction on a LSTK basis for package number 3, which will be located in Ruwais, 250 kilometers away from the capital of the UAE.
In October, Samsung Engineering was awarded its second project from ADNOC USD 1.2 billion fertilizer plant order. The Borouge OCU plant which was Samsung Engineering's first project with ADNOC is scheduled for completion by the end of 2009. ADNOC has 15 subsidiaries that engage in areas such as E&P, refinery, gas and petrochemical, with extensive plans to invest several billion dollars annually for these projects.
Mr Yeon-Joo Jung president and CEO of Samsung Engineering stated that "We have accumulated outstanding business performance in the world market, allowing us to expand our markets and client base. This strong partnership with the UAE will allow us to forge future projects with the nation, which ranks as the 5th largest oil and gas reserves in the world."
The investment for the RRE project exceeds USD 10 billion and is to be executed mainly by Korean contractors. Early this November, Korean contractors SK E&C and GS E&C were announced the winners for package 1 & 2 orders. With Samsung Engineering as the recipient of package 3, has further proved the strength of the Korean engineering industry in overseas markets.
(Sourced from www.zawya.com)
