Samsung JV lands $418m Qatar ethylene storage plant contract
DOHA, November 17, 2024
Samsung E&A, a total solutions provider for the global energy industry, has announced that its joint venture with Taiwanese group CTCI has secured a major contract from Qatar-based Ras Laffan Petrochemicals for setting up an ethylene storage plant 80 km north of Doha.
Ras Laffan Petrochemicals is a joint venture between Qatar Energy and a subsidiary of Chevron Phillips Chemical Company.
Announcing the big win, Samsung E&A said the total contract amount is about $418 million, with the Korean group's share being about $215 million.
The scope of work includes building of ethylene storage facilities and utility infrastructure at an industrial complex in Ras Laffan. It is located within the same complex as the RLP ethylene project awarded to Samsung E&A in 2023 and is currently under execution.
Its purpose is to store ethylene during the plant's maintenance and repair periods, ensuring availability in case of an emergency, said the company in a statement.
As per the deal, Samsung E&A is responsible for the engineering, procurement, and construction (EPC) of key equipment, including 30,000 MT storage tanks, compressors and pumps.
Hong Namkoong, President and CEO of Samsung E&A said: "As we have secured a linked order with Ras Laffan Petrochemicals, we will successfully carry out the project based on our performance experience and innovation strategy and strengthen our position in the Qatari market."
The entire work will be completed within 34 months, he added.-TradeArabia News Service
