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Samsung C&T Wins 2 Trillion Won Deal in Qatar
Building Middle East
Samsung C&T Wins 2 Trillion Won Deal in Qatar
  • By Jung Min-hee
  • July 29, 2015, 03:15
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The Seoul High Court ruled on May 31 that the stock price of Samsung C&T had failed to reflect the value of the corporation in an objective way.
The Seoul High Court ruled on May 31 that the stock price of Samsung C&T had failed to reflect the value of the corporation in an objective way.

 

Samsung C&T will take part in a project worth 2 trillion won (US$1.71 billion) to build a combined cycle power plant in Qatar.

The company announced on July 28 that it has received a letter of award for engineering, procurement, and construction (EPC) work for the combined cycle power plant from Umm Al Houl Power, a special purpose company set up to develop the Qatar Facility D IWPP project.

The deal is ordered by Qatar General Electricity & Water Corporation, “KAHRAMAA,” to build a combined power plant 15km south of Doha, and a 130 MIGD (million imperial gallons per day) desalination plant. One MIGD means 4,546 tons.

The project was developed in partnership with Mitsubishi Corporation, the main developer of the project. Samsung C&T will take on the EPC work of the 2,500MW combined cycle power plant. Samsung C&T is taking US$1.8 billion (2.1 trillion won) out of the total construction costs of US$2.46 billion (2.87 trillion won).

The construction will take 37 months and be completed in June 2018.