PROJECTS: Samsung Engineering bags $653mln contract from Saudi's AGIC

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South Korea's Samsung Engineering announced on Wednesday that it was awarded an engineering, procurement and construction (EPC) contract by Saudi Arabia's Advanced Global Investment Company (AGIC) for a $653 million PDH (Propane Dehydration) plant and associated UTOS (Utilities & Offsites) facilities in Jubail Industrial City II.

The PDH plant, which forms part of AGIC's integrated PDH-PP complex project, will have a total capacity of 843,000 tonnes/year of propylene, the company said in a press statement, adding that the plant and the UTOS are expected to be completed in 2024.

Sungan Choi, President and CEO of Samsung Engineering attributed the win to early engagement from FEED stage, "as well as the persistence to improve our market situation in Saudi Arabia."

On Tuesday, Zawya Projects had reported that Italian engineering company Maire Tecnimont won a $500 million lump-sum turnkey EPC contract from AGIC to build two polypropylene units as part of the complex.

The total value of the EPC contracts awarded by AGIC for its integrated complex stands at $1.2 billion. AGIC is a 100 percent subsidiary of Advanced Petrochemical Company (APC).

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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