|Samsung Engineering receives two contracts worth $ 500 million USD from Thailand PTT subsidiaries||2017.08.16|
Samsung Engineering announced that it received two contracts from two subsidiaries of PTT, a Thailand state-owned oil & gas company. The contracts which have a combined value of approximately $ 500 million USD are awarded for a petrochemical project and a power generation project located in Rayong, 150km southeast of Bangkok.
Samsung Engineering will deliver both on an EPCC (Engineering, Procurement, Construction and Commissioning) lump-sum turnkey basis. The power generation project is anticipated to be delivered in 2019 and the petrochemical project is expected to be completed in 2020.
The track record of delivering 21 projects to Thailand, including 17 projects to PTT group, proves that Samsung Engineering continuously gained the trust from PTT to deliver world class plants. Samsung Engineering prolongs for more than 25 years, starting from 1991, to deliver for the market in Thailand with the upmost goal to provide client satisfaction.
PTT’s global scale Gas Separation Plant (GSP-6) completed in 2010, which was honored by the Project Management Institute (PMI) with the “Distinguished Project Award”, is highlight of the sustainable and successful partnership between PTT and Samsung Engineering had over the years.
Choong Heum Park, President and CEO of Samsung Engineering said, “Together hand in hand with PTT, we are privileged to execute these two prestigious projects. With the continuous trust and opportunity given, Samsung Engineering will do our utmost efforts to deliver top class plants for Thailand.”
Location of Thailand PTT subsidiaries' projects