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Samsung Engineering wins US$690 mln order from Saudi Arabia

Saudi Arabia, December 28, 2017

Samsung Engineering Co., a major South Korean industrial plant builder, said Thursday that it has secured a US$690 million deal to build a chemical plant in Saudi Arabia.

Under the deal with Jubail United Petrochemical Company, Samsung Engineering will build a plant that is capable of producing 700,000 tons of monoethylene glycol per year. Monoethylene glycol is a key raw material in making antifreeze, coolants and solvents.

Samsung Engineering said the construction is scheduled to be completed by October 2020.

Under the deal, Samsung Engineering said it will get $389 million worth of work with Samsung Saudi Arabia Co., Ltd, a local unit of Samsung Engineering, receiving the rest.