Joint venture composition with Taiwan’s CTCI
Samsung E&A has won an order for an ethylene storage project in Qatar.
Samsung E&A announced on the 15th that it has signed an EPC (design, procurement, and construction) contract for Qatar RLP ethylene storage plant with Rasrapan Petrochemicals in Qatar on the 14th.
Samsung E&A will form a joint venture with Taiwan’s CTCI. The total contract amount is about 588.2 billion won (about 418 million U.S. dollars). Of these, Samsung E&A is worth about 301.9 billion won (about 215 million dollars), and the contract period is 34 months. Las Rapan Petrochemical is a joint venture between Qatar’s state-owned energy company Qatar Energy and Chevron Phillips Chemical in the United States.
The project is to build ethylene storage facilities and utility infrastructure in the industrial complex of Las Rapan, located 80 kilometers north of Doha, Qatar’s capital. The plant to be built this time aims to maintain and repair ethylene production facilities in the complex and temporarily store ethylene in emergency situations. Among them, Samsung E&A is in charge of design, procurement, and construction of major devices such as 30,000 metric tons of storage tanks, compressors, and pumps.
Samsung E&A won a linked order this time after being recognized by the client for its ability to carry out the Qatar RLP Ethylene project, which was awarded in 2023. The company expected to maximize efficiency by utilizing the human and material resources of the existing site and to carry out successful projects based on trust in the client and partnership with Taiwan’s CTCI.
An official from Samsung E&A said, “As we have won a linked order, we will successfully carry out the project based on our performance experience and innovation strategy to strengthen our position in the Qatar market.”