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Biz News Korea(Eng)

Samsung Engineering secures 550 bn won deal from Thailand’s PTT units

Collected: 2017.08.17

Distributed: 2017.08.18

Source: Go Direct

Samsung Engineering President and CEO Park Choong-heum and Director of an affiliate of PTT Chananchida Wiboonkanarak are signing a contract at the headquarters office of Samsung Engineering. (Source by Samsung Engineering)

Samsung Engineering Co., a construction arm of South Korea’s largest conglomerate Samsung Group, clinched two deals worth a combined 550 billion won ($483 million) to build petrochemical and power generation facilities in Thailand.

Samsung Engineering said on Wednesday that it signed two contracts worth 550 billion won to construct a petrochemical and a power plant for two subsidiaries of PTT, a Thailand state-owned oil and gas company.

Under the contracts, the company will build the plants at the country’s largest industrial complex in Rayong, 150 kilometers southeast of the capital Bangkok.

Location to be conducted the signed projects in Thailand

The company aims to complete the petrochemical project in 2020 as an EPC (Engineering, procurement, and construction) deal, and the power plant in 2019 in a lump-sum turnkey deal.

Including the latest, Samsung Engineering won a total 19 deals from subsidiaries of PTT, the largest state-owned energy group with about 40 units in Thailand, and worked on more than 3 trillion won worth projects with the Thai group since 1991.

By Yong Hwan-jin

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