Daewoo awarded $1.04bn deal for Aramco petchem plant
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Daewoo awarded $1.04bn deal for Aramco petchem plant

Daewoo awarded $1.04bn deal for Aramco petchem plant

Saudi Aramco has awarded a JV between South Korea's Daewoo Engineering & Construction and Japan's JGC a contract to build a petrochemical plant in Saudi Arabia, Yonhap has reported. Under the deal, will build a plant for naphtha processing and aromatics production in the kingdom's southwestern economic city of Jazan near the Red Sea. Under the $1.04bn contract, the two firms will build a plant for naphtha processing and aromatics production in the kingdom's south-western economic city of Jazan near the Red Sea. The two companies are set to complete the plant 41 months after starting construction and each has a 50% interest in the deal. The latest order brings to $1.285bn the total value of orders won by the Korean builder in Saudi Arabia alone.

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