Daelim to construct a $610 million PP complex in Saudi Arabia
09 Dec '05
1 min read
Following a sudden increase in overseas orders for Korean constructing firms, they have generated a business of more than $10 billion this year, and all this due to construction upswing in the Middle East.
Daelim Industrial Co of Korea and Technimont of Italy have jointly bagged a contract from Sahara-Basell for setting up a polypropylene complex in Saudi Arabia worth US $610 million, said a senior official from Daelim.
Daelim and Tecnimont share 53 and 46 percent partnership respectively, in the project in that order.
These two firms plan to start construction of the petrochemical complex having annual capacity to produce 45 tons of polypropylene in January, and complete it by November 2008.
Daelim expects to pick more such orders from the Middle East.
In 1947, the company name was changed to Daelim Industrial Co Ltd. As a construction company, Daelim was a pioneer in the field that helped in restoration of the war ravaged nation after the Korean War.
Italy based Tecnimont is a leading international engineering and construction company operating worldwide in the chemicals, petrochemicals, oil & gas, energy and other sectors of the process plant industry.
marketing@alchempro.com
