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Hanwha E&C Wins $400m Saudi Chemical Plant Deal

Wednesday, Apr 13, 2016
Hanwha E&C Wins $400m Saudi Chemical Plant Deal

Hanwha Engineering and Construction Corporation, a major South Korean builder, has won a $400-million deal to build a chemical plant in Saudi Arabia.

The contract was awarded by Saudi Calcined Petroleum Company, one of the largest kiln coke calciners in the Middle East region and the first Saudi company to achieve a 666,000 tonnes production capacity.

Once completed in the first half of 2018, the plant will be able to produce about 670,000 tonnes of petroleum-related products annually, reported the Yonhap.

This is the Korean group's second win in the kingdom following the construction of an ethylamine chemical plant by Hanwha E&C in Saudi Arabia in 2010, stated the report citing a company official.

The plant will come up at an industrial complex located in the southeastern part of the kingdom.

 

Source : tradearabia.com

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