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Samsung Engineering wins $470mn waste heat recovery plant deal in UAE

2018.03.07 14:23:24 | 2018.03.07 15:40:45
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Location of the UAE ADNOC Crude Flexibility Project

Location of the UAE ADNOC Crude Flexibility Project

Samsung Engineering Co., the construction unit of South Korea’s Samsung Group, sealed a $470 million deal for a waste heat recovery power plant in the United Arab Emirates.

The Korean company said Wednesday it won the bid from ADNOC Refining, a subsidiary of the state-owned Abu Dhabi National Oil Company (ADNOC). The facilities would be built at the Ruwais Industrial Complex, 230 kilometers west of the capital Abu Dhabi.

Under the deal, the company will build a 230-megawatt power plant using waste heat from existing facilities and a desalination plant capable of producing 2,600 cubic meters of water per hour.

Samsung Engineering aims to complete the project on an engineering, procurement and construction (EPC) basis by 2023.

This is the company’s latest undertaking at the Ruwais Industrial Complex, following the carbon black and delayed coker (CBDC) plant, the Ruwais Refinery expansion project, and most recently the $3.1 billion crude flexibility project it won from ADNOC Refining last month.

A company official said that these previous experiences have equipped it with the necessary human and technical resources and partner networks to successfully carry out the latest deal.

The Abu Dhabi project is its second deal in the Middle East this year after the $1 billion refinery plant order from Oman.

Samsung Engineering shares closed Wednesday down 0.93 percent at 16,050 won ($15).

By Yong Hwan-jin and Kim Hyo-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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