Samsung C&T announced on December 24 that it won a large-scale project worth 3.5 trillion won in the UAE.
Samsung C&T has signed an design, procurement and construction (EPC) contract for a project to build an ultra-high voltage direct current (HVDC) network that connects the UAE offshore oil production facility and Abu Dhabi's onshore power grid.
It is a project to construct power conversion stations in two onshore areas near Abu Dhabi and two offshore islands with offshore oilfield facilities, and to build a subsea power transmission network of about 1,000 MW and 600 MW. The transmission network extends 137 km and 122 km from the land, respectively.
Samsung C&T plans to form a consortium with Belgian construction company Jan De Nul to carry out EPC, with a total construction cost of $3 billion (3.5 trillion won). Of this, the construction cost of Samsung C&T is 2.27 billion dollars (2.7 trillion won).
Abu Dhabi State Oil Company (ADNOC) has been promoting this project to stably supply electricity to existing offshore oilfield facilities using onshore power grids and to reduce carbon emissions.
"Through this order, we have expanded our business area to include the extra-high voltage direct current transmission network (HVDC) connected to the construction of power plants and substations," said A Samsung C&T official. "In the future, we will expand our participation in power transmission projects linked to new and renewable power generation projects and inter-national power grid connection projects. We plan to do it.”
Meanwhile, Samsung C&T surpassed 7 trillion won in overseas orders this year, including the Qatar LNG export base worth 1.85 trillion won, the Taiwan Airport Terminal 3 construction (1.24 trillion won), and the Singapore subway construction (500 billion won).
