Samsung Engineering Company, a leading engineering, procurement, construction and project management (EPC&PM) company, has signed a $650 million deal to build a petrochemical plant at Jubail Industrial City II in Saudi Arabia, it has been announced.
According to a bourse filing, the contract was awarded by Advanced Global Investment Company, a subsidiary of Saudi Arabia’s Advanced Petrochemical Company. As per the details of the deal, Samsung Engineering will build a propane dehydrogenation plant and utilities and offsites at Jubail Industrial City II on Saudi Arabia’s eastern coast, the filing said.
Set to be completed in 2024, the plant will produce 843,000 tonnes of propylene per annum with all required off-sites and utilities carried out by utilising Catofin technology from the US group Lummus Technology, the filing concluded.