Samsung Engineering wins 535.3 million dollars’ petrochemical plant order in Vietnam
Samsung Engineering wins 535.3 million dollars’ petrochemical plant order in Vietnam
  • Lee Jun-sung
  • 승인 2018.06.29 12:34
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Samsung Engineering won a 535.3 million dollar Vietnamese petrochemical plant. 

Samsung Engineering made an announcement on the 27th (local time) that it signed an EPC (Engineering Procurement Construction) contract with Long Son Petrochemicals in Vietnam to build the ‘Package B High-Density Polyethylene (HDPE) plant’ and the ‘Package C polypropylene (PP) plant’.

The contract ceremony, which was held in Bangkok, Thailand, was attended by Choi Sung-ahn, President of Samsung Engineering, Chonranat Yanaranob, president of SCG Chemical, and Tammasac Setudom, president of Long Son Petrochemicals. 

The project will be part of the Long Son Petrochemical complex construction project, Vietnam’s largest petrochemical complex in the city of Vung Tau Beach on the southern coast of Vietnam.

Samsung Engineering will build facilities capable of producing 450,000 tons of High-density Polyethylene (HDPE) and 400,000 tons of Polypropylene (PP) per year. The contract is worth 552.7 million dollars. Samsung Engineering will perform the EPC of the plant independently. It is aimed to be completed by 2022.

The contractor, Long Son Petrochemicals, is a subsidiary of Siam Cement Group (SCG), the largest privately owned company in Thailand, and Samsung Engineering has already carried out four projects with this company. “This order will further strengthen the trust relationship between Thailand’s two major companies -  the state-run PTT and the privately-run Siam Cement Group. We expect further order from Vietnam and Thailand, as well as from countries in Southeast Asia,” said a Samsung Engineering official. 

Samsung Engineering’s new orders this year amounts to 5.617 billion dollars, surpassing the three-quarters of last year’s order receipts of 7.579 billion dollars. The company plans to seek stable earnings and pursue growth centered on projects it has recently received.

“We will successfully carry out this project based on our differentiated project management capabilities,” said a Samsung Engineering official.

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