Samsung-led consortium wins US$1.66 billion UAE contracts

South Korean engineering giant Samsung Engineering and its joint venture partner Maire Tecnimont SpA of Italy have secured two contracts worth US$1.66 billion to build petrochemical plants in the United Arab Emirates (UAE).

Under the deal with Borouge, owned by Abu Dhabi National Oil Co., Samsung Engineering and Maire Tecnimont will build two polyethylene units with a capacity of 1.08 million tons a year and two polypropylene units that can produce 900,000 tons of product each year.

The UAE plants will be constructed in Ruwais on the Gulf coast outside Abu Dhabi city, and the project will be completed by September 2013, according to a Samsung Engineering news release.