SEOUL– Samsung Engineering Co., a plant construction unit of Samsung Group, said Monday that its joint venture with a Taiwanese firm has won a deal valued at 3.1 trillion won (US$2.49 billion) for an ethylene plant in Qatar.
Under the deal with Ras Laffan Petrochemicals, Samsung Engineering will be in charge of the major ethylene production facilities, while CTCI Corporation of Taiwan will build the utility infrastructure.
The Ras Laffan Petrochemicals Project (RLPP) is expected to be completed in late 2026, and Samsung Engineering’s stake in the deal is worth some 1.6 trillion won.
Once completed, the plant in Ras Laffan Industrial City, some 80 kilometers north of Doha, will have an annual capacity of 2.08 million tons of ethylene, one of the world’s largest ethylene units, according to Samsung Engineering.
Ras Laffan Petrochemicals (RLP) is a joint venture consisting of Qatar Energy with a 70 percent stake and Chevron Phillips Chemical with a 30 percent stake.
Samsung Engineering CEO Namkoong Hong said Samsung Engineering is the ideal EPC contractor for this megaproject. “We have the know-how and experience of successfully completing numerous ethylene projects,” he said.
Source: Yonhap News Agency