Samsung Engg gets orders from India, Thailand
Samsung Engineering Co, a South Korean builder, won contracts valued at a combined $301 million to build and expand chemical plants in India and Thailand.
By Agencies |
SINGAPORE: Samsung Engineering Co, a South Korean builder, won contracts valued at a combined $301 million to build and expand chemical plants in India and Thailand.
The Seoul-based company received initial orders to build plants for 256 million US dollar from Indian Oil Corp and $45 million from TOC Glycol Co of Thailand, Samsung Engineering said on Tuesday. Final signing of the contracts will be made at later dates.
Global economic growth is fuelling the need for more chemical products, helping Samsung Engineering and other South Korean companies to win more contracts to build more production facilities. Last year, South Korean construction companies received a record $16.5 billion of contracts from overseas.
Samsung Engineering will build the plant in India's Panipat to produce 320,000 tons of ethylene glycol. The construction will take 33 months to complete.
In Thailand, Samsung Engineering will construct a plant to make ethylene glycol and ethylene oxide. The facility is expected to be completed in the second half of next year.
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