Samsung Engineering SOCAR sign $650 mn urea plant contract

Samsung Engineering and SOCAR sign $650 mn urea plant contract

11:15 AM, 18th March 2013
Samsung Engineering and SOCAR sign $650 mn urea plant contract

 

SEOUL, KOREA: Samsung Engineering signed a contract worth $650 million USD (EUR 498 million) with State Oil Company of Azerbaijan Republic (SOCAR), Azerbaijan’s state-owned company, for the SOCAR Ammonia and Urea Complex project. SOCAR CEO Rovnag Abdullayev and Samsung Engineering President & CEO Park Ki-Seok joined the historic event to ink the new partnership officially. The ammonia and urea plant will be built in the Sumgayit city, 35 kilometers away from the capital Baku, in Azerbaijan. The plant is slated to produce 1,200 tonne of Ammonia per day and 2,000 tonne of Urea per day.

 Samsung Engineering is responsible for engineering, procurement, construction and pre-commissioning on a lump-sum turnkey basis with completion set for 2016.

 © WOC News

 

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