SGC E&C wins $366 mn chemical plant project in Saudi Arabia
Hyun-Ju Yun
6 HOURS AGO
SGC Engineering & Construction (E&C), a company specializing in engineering, procurement and construction (EPC), said on Wednesday that it signed a chemical plant project contract with Saudi International Petrochemical Company (Sipchem) worth a total of 490 billion won ($366 million).
SGC E&C secured on August 7 a contract for an ethylene vinyl acetate (EVA) production facility valued at 260 billion won ($194 million).
Following this, on August 26, the company won an additional contract worth 230 billion won for a PDH/PP facility.
The PDH/PP facility involves the production of polypropylene (PP) by combining propylene, produced through the propane dehydrogenation (PDH) process, with ethylene.
SGC E&C will handle the entire construction process, including EPC.
The company had secured contracts in Saudi Arabia for an ethylene-propylene facility worth 690 billion won and an isopropyl alcohol facility worth 250 billion won, achieving over 1.4 trillion won in new orders in Saudi Arabia this year alone.
The company has expanded its overseas portfolio by winning a chemical plant construction project in Malaysia worth 332.3 billion won.