New Contract
Samsung Engineering Co., Ltd. announced today that it has been awarded for an over $ 800 million USD contract from Lotte Chemical Louisiana LLC for a 700,000 MTPA monoethylene glycol plant (MEG) in Lake Charles Louisiana, USA.
Samsung Engineering’s subsidiary SEA Louisiana Construction LLC will provide detail engineering and procurement and the consortium partner Chicago Bridge & Iron Company Inc. (CB&I) will provide construction for a successful execution of the project on US soil. Samsung Engineering’s contract portion is about $ 430 million USD, while CB&I’s will receive approximately $ 370 million USD for their services.
Samsung Engineering is known as one of the most experienced EPC contractors for EG projects and has delivered a total number of 14 EG plants for clients around the globe, including the Sharq EO/EG plant in Saudi Arabia, which has the equivalent capacity of 700,000 MTPA such as this project.
Choong Heum Park, President and CEO of Samsung Engineering, stated: “We have previously worked with Lotte Chemical and successfully completed several MEG projects.” He added: “We are looking forward to further improving our excellent relationship with them and providing the best services as possible on a long-term basis.”
Samsung Engineering is focused on providing a world-class MEG plant for the US market with its consortium partner CB&I. Great synergies are expected from this consortium considering CB&I’s expertise in the US construction market and the previous experience working together on the Kuwait CPF project.
Samsung Engineering is leading in providing EO/EG plants globally and has previously executed several EO/EG plants for Lotte. Besides this MEG project in Lake Charles Louisiana, Samsung was awarded in 2015 for the Malaysia RAPID (Refinery and Petrochemical Integrated Development) package11 EO/EG project and the PPTGC (Petroleum Authority of Thailand Global Company) EO/EG FEED project which is also located in Dilles Bottom, Ohio, USA.
Samsung Engineering strongly believes that it can continue to receive numerous of EO/EG projects globally in 2016 starting with the anticipated award of PPTGC EO/EG project in the US.