SGC eTEC bags $503 mn petrochem plant expansion project

[Courtesy of SGC eTEC E&C]

South Korea’s SGC eTEC E&C said on Friday that it has been awarded the Letter of Award (LOA) as the Engineering, Procurement, and Construction (EPC) contractor to expand Saudi Arabian petrochemical company SEPC’s ethylene and propylene production facilities.

The contract, valued at about 653.7 billion won ($503.8 million) aims to increase the annual production capacity of ethylene and propylene facilities located in the Jubail Industrial City, Saudi Arabia.

SGC eTEC E&C will oversee the entire construction process, with particular emphasis on the construction worth 353 billion won, which will be conducted via the company’s wholly owned subsidiary in Saudi Arabia.

The successful bid marks the re-entry of the company into the Saudi market after a four-year hiatus.

SGC eTEC E&C aims to expand its presence in the Middle East market, leveraging its local network and EPC capabilities.