Samsung Engineering wins $650m plant deal from Saudi Arabia
Samsung Engineering Co., a plant construction unit of Samsung Group, said Wednesday it has clinched a $650 million deal to build a petrochemical plant in Saudi Arabia.
Under the deal with Advanced Global Investment Co., a
subsidiary of Saudi Arabia's Advanced Petrochemical Co., Samsung Engineering
will build a propane dehydrogenation plant and utilities and offsites at Jubail
Industrial City II on Saudi Arabia's eastern coast.
The plant, which is set to be completed in 2024, will
produce 840,000 tons of propylene annually.
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