Petronas subsidiary awards two contracts to Samsung group for US$882 mln

07-Dec-15

Petronas Chemicals Group Bhd (PetChem) has awarded two contracts worth US$882 mln (RM3.72 bln) to build polyethylene and glycol processing plants to the Samsung group, as per www.thestar.my. The company informed Bursa Malaysia that the contracts were given to the consortium of Samsung Engineering Co. Ltd, Samsung C&T Corp and Samsung Engineering (M) Sdn Bhd. Petchem is a 64.35% owned subsidiary of Petroliam Nasional Bhd (Petronas). PetChem’s unit PRPC Polymers Sdn Bhd awarded the engineering, procurement, construction and commissioning (EPCC) contract for the linear low density polyethylene LLDPE worth US$305 mln (RM1.3 bln) to the group. Its other unit PRPC Glycols Sdn Bhd awarded a contract also to the group to undertake the EPCC of the ethylene oxide ethylene glycol plant estimated at US$577mln (RM2.42 bln). PetChem said the two contracts would start on Dec 23 and were expected to be completed by April 2019.