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View of Samsung Engineering headquarters. (Photo = Samsung Engineering) |
[Alpha Biz= Reporter Kim Jisun] Samsung E & A (Samsung Engineering) and GS Engineering & Construction have won orders for gas plants worth nearly 10 trillion won in Saudi Arabia. It is the largest-ever Saudi construction project won by a South Korean company and the third-largest ever by an overseas construction order.
The presidential office announced on the 3rd that Samsung E & A and GS Engineering & Construction have won a "Padilla Gas Expansion Program" pushed by Saudi state-run oil company Aramco.
The program is designed to expand gas treatment facilities and auxiliary facilities at the Jubail Industrial Complex, 350 kilometers northeast of the Saudi capital.
Samsung E & A was in charge of building gas treatment facilities and auxiliary facilities. The construction cost is $ 6.07 billion (about 8.2 trillion won). This is the largest amount since the establishment of Samsung E & A and the largest construction project won by a domestic construction company in Saudi Arabia. GS Engineering & Construction won a $ 1.22 billion (about 1.64 trillion won) sulfur recovery facility construction. Sulfur recovery treatment facility is a facility that collects and recycles sulfur generated during gas refining.
The combined construction cost of the two companies totaled $ 7.29 billion (about 9.84 trillion won). This is the third largest in Korea's overseas construction history, following the Barakah Nuclear Power Plant ($19.1 billion) of the United Arab Emirates (UAE) in 2009 and the construction of the Bismaya New Town in Iraq ($7.7 billion) in 2012.
With this order, overseas construction orders amounted to $ 17.22 billion this year, more than doubling from the same period last year (6.11 billion won).
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
