SGC E&C secures $189 mn petrochem facility project in Saudi Arabia

SGC Engineering & Construction (E&C), a specialist in design, procurement and construction (EPC), said on Thursday that it has signed a contract for a petrochemical facility project worth 260 billion won ($189 million) in Saudi Arabia.

The project involves the construction of an ethylene-vinyl acetate (EVA) production facility and will be located in the Jubail Industrial City of Saudi Arabia.

The client is Saudi International Petrochemical Company (Sipchem). Since starting operations in Saudi Arabia in 2010, SGC E&C has collaborated with Sipchem on four projects.

This year, SGC E&C's new orders in Saudi Arabia amount to 1.2 trillion won ($870 million).

"The solid network established through delivering high-quality plant design and construction to existing clients has led to substantial new orders. We plan to actively discuss new projects with local clients and further expand our presence in the overseas market in the second half of the year," said a company official.

SGC E&C is expanding its overseas portfolio and strengthening its global competitiveness through various projects this year, including a 690 billion won ($500 million) ethylene and propylene facility in Saudi Arabia, a 250 billion won ($181 million) isopropyl alcohol facility in Saudi Arabia, a 260 billion won ($189 million) EVA facility in Saudi Arabia and a 332.3 billion won ($241 million) chemical engineering facility in Malaysia.

Write to Jin-Woo Park at jwp@hankyung.com