Samsung Engineering wins $1.14 bln order to participate in Russia's petrochemical project

By Lim Chang-won Posted : February 9, 2022, 17:59 Updated : February 9, 2022, 17:59

[Gettyimages Bank]

SEOUL -- Samsung Engineering, a construction and project management company in South Korea, has secured a deal worth one billion Euros ($1.1 billion) to participate in the construction of ethane crackers in a petrochemical and gas complex at Ust-Luga in near Russia's shoreline of the Gulf of Finland.  

As a subcontractor for China National Chemical Engineering No. 7 Construction Company (CC7), the original contractor with Russia's Baltic Chemical Complex LLC (BCC), Samsung Engineering is in charge of engineering and procurement for the construction of two ethane cracker units capable of producing  2.8 million tons of ethylene per year. 

Ethane crackers are plants that perform the first step in the process of transforming ethane, a component of natural gas, into plastic products. Construction will be completed in 2024. The complex in Ust-Luga will use natural gas as its key feedstock.

Samsung Engineering said it would maximize efficiency and productivity by utilizing the experience and know-how of project implementation in neighboring CIS areas such as Uzbekistan and Azerbaijan. "We will successfully carry out our first project in Russia to build trust from our clients and further expand our business performance," an unnamed Samsung Engineering official said in a statement on February 9.

In December 2021 DL E&C, a builder in South Korea, clinched a deal worth 1.17 billion euros from CC7 to participate in the construction of a polymer plant in the Ust-Luga complex. The builder is in charge of design and equipment procurement. 
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