US $1.37bn contract covers two power plants in Nama and Mostaganem

SEOUL - February 20, 2014 - Samsung C&T was awarded an EPC contract to build two power plants for $1.37 billion in Algeria, by Sonelgaz Electricity Production Company (SPE), a subsidiary of the state-owned electricity and gas utility group Sonelgaz. Power facilities will be located in Mostaganem and Nama. The power station in Mostaganem will have an electricity generating capacity of 1,450MW and the one in Nama 1,163MW upon its completion.

The government of Algeria has plans to build six new combined-cycle power plants throughout the country by 2017 to meet growing demand of electricity. Samsung C&T has been selected to construct two out of the six planned power plants.

 "Samsung C&T has an extensive global experience in power plant construction of more than 20 years. Based on the company's emphasis on quality and safety, we look forward to working on the project to contribute to the economy of Algeria by assisting to boost its energy capacity," said Chi-Hun Choi, the CEO of Samsung C&T.

Samsung C&T has completed a total of 18 power plant projects and is currently working on 12 projects worldwide, including projects in Saudi Arabia, UAE, Singapore and Canada. The combined power-generating capacity of ongoing projects is 20,500MW. In 2013, the company won a $1.2 billion contract to construct a 2,100MW combined-cycle power plant in Rabigh, Saudi Arabia.

About Samsung C&T Corporation
Established in 1938, Samsung C&T Corporation is the origin of Samsung Group, South Korea's largest conglomerate with interests in construction, electronics, chemicals, finance, and numerous other sectors. The Samsung C&T has two autonomous business groups - Engineering & Construction and Trading & Investment.

Samsung C&T Engineering & Construction group provides integrated business solutions to customers worldwide in the areas of building, civil infrastructure, plant and housing/development. The E&C group has successfully delivered landmark projects around the world. The company is best known for the construction of Burj Khalifa in Dubai, which is currently the world's tallest building. We are also working on various power plant projects, including Qurayyah IPP in Saudi Arabia and nuclear power plant projects in UAE. For more information, please visit www.secc.co.kr.

Contact:
Kristina Kim
Tel.: +82-2-2145-6441
tina.kim@samsung.com

© Press Release 2014