Samsung Awarded $1.2 bln Fertilizer Plant Project

Samsung Engineering announced that a $1.2 billion USD fertilizer plant project order was given by FERTIL, (Ruwais Fertilizer Industries) a subsidiary of National Oil Company ADNOC (Abu Dhabi National Oil Company).

FERTIL-2 will be located in Ruwais, 250km west of Abu Dhabi, UAE. The facility will produce Ammonia and Urea, with the production capacity of 2,000 and 3,500 MTPD, respectively, which is slated for production in January of 2013.

Samsung Engineering will execute this engineering, procurement, construction and commissioning project on a lump-sum turn key basis, utilizing its expertise gained from the execution of the Phu My fertilizer plant in Vietnam (2004 completion) and the current Maaden Ammonia project in Saudi Arabia (scheduled to be completed December 2010).

Through the FERTIL-2 project, Samsung Engineering was able to re-confirm its solid partnership with Uhde (Germany), known as the most advanced ammonia licensor in the world.

Yeon-Joo Jung, President and CEO of Samsung Engineering said, “Samsung Engineering currently has established the project execution capacity of $10 billion USD and will continuously increase its capabilities based on the company’s long-term plan.” “Samsung Engineering will try its best to win potential multi-billion dollar projects including the planned Ruwais Refinery expansion project located in the UAE, and continue its long-term partnership with ADNOC.”

UAE's crude oil and gas reserve ranks globally as the 5th and 6th highest, respectively. Samsung Engineering will continue to build its positive reputation in UAE’s petrochemical and environmental plant market since the company’s first project in 2007. Samsung Engineering has proved its excellent performance with shortened mechanical completion (MC) and importance placed on safety.

Samsung Engineering already has $5 billion USD in new overseas orders by October of 2009. The company is expected to reach its annual goal of 7 trillion KRW of new orders, and is set to continue its annual average growth of 30% by diversifying its products, customers, and market.