Korea’s Daelim has won a contract to build a petrochemical plant worth US$294.87m, together with its local subsidiary, Daelim Saudi Arabia.
Ordered by Saudi Butanol, this project involves constructing a large-scale petrochemical plant that can produce 350,000 tons of butanol annually. The initial contract on the pre-construction has been signed. Within six months, Daelim said, the contract is scheduled to be converted into a lump sum turnkey contract, through which Daelim will be responsible for engineering, equipment purchase, and construction.
The construction site is located within the Al-Jubail Industrial Complex in the eastern part of Saudi Arabia.
Construction is expected to take 28 months and is slated to be completed by May 2015.
Daelim says it will be implementing 10 projects worth US$7.5bn in Saudi Arabia, including this project.