Daelim Industrial Co. announced on October 22 that it signed an agreement on the New Ammonia project at Ma'den headquarters in Saudi Arabia worth $892 million.
The ceremony was attended by Darren Davis, president of the Saudi state-run mineral company Madden, and Lim Hun-jae, head of the plant business and executives of both companies.
The project will build a ammonia production plant in the Ras Al-Kahir region, 80 kilometers north of Juveil, east of Saudi Arabia.
With natural gas, it can produce 3,300 tons of ammonia a day. Ammonia is widely used in the manufacture of refrigerants, medicines, condiments, and other materials, and has become a high-value, petrochemical product.
Construction will begin at the end of this year and be completed by 2021. Daelim Industrial Co. successfully completed its Saudi Madden Ammonia plant in 2016.
Based on this result, it was successful in winning orders due to its quality and technical competitiveness.
In particular, the construction of a ammonia plant, which is a fundamental component of chemical fertilizers, has been carried out one after another, gaining recognition of technological prowess in the fertilizer sector.
Daelim Industrial Co. has experience in conducting many projects, including construction of an oil refinery for exports to Saudi Arabia and construction of a low-density polyethylene plant.