Hanwha Engineering and Construction Corp has clinched a $400mn Engineering, Procurement and Construction (EPC) deal for a chemical plant in Saudi Arabia.
The Korean contractor will build the plant for Saudi Calcined Petroleum Co (SCPC) in Jubail 2 Industrial City at the Jubail Industrial Complex located in the southeast region of the Middle East country, according to South Korean news outlets.
The plant will produce 670,000 tons of product annually when completed in the first half of 2018, Hanwha said in a statement today.
Choi Kwang-ho, CEO of Hanwha E&C and Mohammed Al Qahtani, chairman of SCPC signed the contract at Al Choba Intercontinental Hotel in Saudi Arabia on Thursday.
Hanwha E&C has previous experience in Saudi Arabia having built an ethylamine chemical plant E&C in Saudi Arabia in 2010 and is currently building a $935mn chemical plant in the country.