Samsung Engineering signs a $1.7 bn contract for 2 plants in the UAE
- Receives world’s largest polymer plant contract, with Technimont JV
- CEO of Samsung Engineering Park Ki-Seok declares, “Our differentiated
   capabilities result in repeat orders from ADNOC.”
- In the past 7 months, the company was awarded $7.1 bn USD in contracts
   for a total of 5 plants from ADNOC

On June 29th, Samsung Engineering signed an official contract with Borouge, a subsidiary of
ADNOC, for a $1.7 bn USD contract for two plants announced in May as part of the Ruwais
refinery expansion project.

The signing ceremony was held in Abu Dhabi, UAE at the Sheik Khalifa Energy Complex in the
Borouge Tower with ADNOC’s Director of Chemical Directorate Rashed Saud Al Shamsi,
Borouge CEO Abdulaziz Alhajri, Samsung Engineering President and CEO Park Ki-Seok and
Chairman of Marie Techimont Group F.Di Amato, along with 40 other UAE ambassadors and
officials.

Samsung Engineering and JV partner Tecnimont (Italy) received a contract for $1.25 bn USD
polyolefin plant and a $400 mn USD low density polyethylene (LDPE) plant from Abu Dhabi
Polymers Co. Ltd (Borouge), a JV of UAE’s Adnoc and Austria’s Borealis. Currently Samsung
Engineering is executing approx. $8 bn USD in projects with Adnoc.

Samsung Engineering-Tecnimont will head 2 out of 3 packages of the Borouge 3 expansion
project for the UAE's Ruwais refinery complex. The expansion project includes the world's
largest polyolefin plant, which will produce 900,000 tons of polypropylene and 108,000 tons of
polyethylene. The second package consists of a plant that will produce 350,000 tons of LDPE.
This lump-sum-turn key project includes design, engineering, procurement, construction and
commissioning, and is set for mechanical completion in September of 2013.

In the past 7 months, Samsung Engineering received a total of $7.1 bn USD in new contract
orders from ADNOC, UAE’s national oil company, for 5 plant projects. This record demonstrates
the partnership and trust between the client and Samsung Engineering.

President and CEO of Samsung Engineering Park Ki-Seok said at the signing ceremony,
“Samsung Engineering’s differentiated capabilities has resulted in repeat orders from ADNOC.
Based on these long term relationships, the company hopes to be involved in any other future
investments.” In addition he stated, “We will successfully complete this project by closely
collaborating with our JV partner Tecnimont, with the combination of our extensive experience
in the Middle East and expert knowledge for the polymer product. 

- Samsung Engineering President and CEO Park Ki-Seok (on right), Borouge CEO Abdulaziz 
  Alhajri(center) and Managing Director of Technimont Roberto Bertocco (on left) shaking hands
  after signing the contract for the Borouge 3 project.