Order Backlog Reaches 17 Tril. Won
Samsung Engineering said on Nov. 30 that it has recently received a letter of intent (LOI) from Malaysian petrochemical company Sarawak Petchem for a contract on the Malaysia Sarawak Methanol Project.
The Korean contractor will build a plant that produces 5,000 tons of methanol per day. The value of the order stood at US$1.07 billion.
Samsung Engineering will solely carry out engineering, procurement and construction (EPC) work. The plant will be completed in 2023.
Samsung Engineering started participating in the project by receiving a pre-front end engineering design (pre-FEED) order in early 2018 and an FEED order in April 2019. Since November 2019, the company has been carrying out initial tasks such as ordering of construction equipment for the main project and initial construction work. This time the Korean contractor won the EPC order.
In October, Samsung Engineering won a 4.5-trillion-won order, the largest single project in the company’s history, to build an oil refinery plant in Mexico under its FEED-EPC order-taking strategy.
Including the project, Samsung Engineering has secured an order backlog of more than 17 trillion won.