GS Engineering & Construction and Saipem awarded contract for expansion of Rabigh II

South Korea’s GS Engineering & Construction and Italy's Saipem have been awarded deals to expand the Rabigh II petrochemical complex in Saudi Arabia, a JV between Saudi Aramco and Japan's Sumitomo Chemical. As per Reuters, the contract value of GS is pegged at US$1.8 bln, while industry sources in Saudi Arabia said that Saipem's deal was worth about US$700 mln.
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