Aramco awards Samsung Luberef expansion deal
Complex Made Simple

Aramco awards Samsung Luberef expansion deal

Aramco awards Samsung Luberef expansion deal

South Korean group Samsung Engineering has been awarded a contract to double the capacity of a Luberef oil lubricants refinery in Saudi Arabia that is majority-owned by Saudi Aramco, Reuters has reported, citing two industry sources. Samsung competed against South Korean peer Hyundai Engineering and Construction, Italian group Saipem and Spanish company Tecnicas Reunidas for the project, seen costing $1bn. Luberef said recently that commercial production from the expansion will start in the fourth quarter of 2015. Luberef, 70% owned by Saudi Aramco and 30% by Saudi Jadwa Industrial Investment, produces around 550,000 tonnes per year of oil lubricants at its two refineries on the kingdom's Red Sea coast at Jeddah and Yanbu.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved