Recently obtaining a 2.6bn USD contract for an Algerian refinery complex, Samsung Engineering announces another official signing of a new refinery order from Saudi Arabia.
Samsung Engineering (President & CEO Yeon-Joo Jung) stated that the company won 2 refinery plants amounting to 1.6bn USD from SATORP, a joint venture that includes Saudi Aramco and Total of France. Samsung Engineering was awarded 2 main plants out of the 5 process packages from the 'Jubail Export Refinery Complex' project, which will be constructed in Al-Jubail, Saudi Arabia.
The Aromatics plant (package #3), at a value of $700M USD, will produce 700,000 MTPA of Paraxylene and 140,000 MTPA of Benzene. Samsung Engineering will provide the engineering, procurement and construction of this package on a lump-sum turn key basis, with completion scheduled for August 2012.
Package #4 consists of the Delayed Coker unit with a contract value of approximately $900M USD, which was obtained through a strategic collaboration between Samsung Engineering and Japanese global leading EPC Company Chiyoda. By June 2013, the unit is expected to produce 100,000 BPSD of light hydrocarbon such as LPG and naptha through a thermal cracking process of heavy hydrocarbon.
Including this award, Samsung Engineering is currently performing a total of $2B USD projects with Aramco, which allows efficient usage of material, equipment, manpower and project resources.
President & CEO of Samsung Engineering Yeon-Joo Jung stated, "Based on our outstanding execution of the last 5 projects in Saudi Arabia during 2008, we are confirmed as a qualified EPC partner of these 2 core process packages for the Jubail Refinery Complex project. He also stated, "We will also strengthen our Middle East market share by enhancing technical ability and glocalization through the utilization of the In-Kingdom EPC center."
Saudi Aramco has plans for the construction of large-scale plants such as Yanbu and Ras-Tanura, to continue to produce high-value added export refining products with its abundant natural resources. Samsung Engineering expects continuous order flow from Aramco by strengthening its long-term partnership, delivering quality and cost competitiveness as well as optimizing local business project execution.
Samsung Engineering has plans for greater business expansion in the MENA (Middle East & North Africa) region by using its extended expertise and capabilities.