SK E&C wins $3.6bn petchem plant project in Egypt
Firm part of consortium building petrochemical plant in Ain Sukhna
SK Engineering & Construction has won a large-scale petrochemical plant project in Egypt.
The contractor said that it landed the $3.6bn deal for the Tahrir Petrochemical Project as part of a consortium with its German partner Linde. Private Egyptian developer Carbon Holdings commissioned the project.
Under the terms of the contract, SK E&C will build a petrochemical plant in Ain Sukhna, a town lying on the western shore of the Red Sea's Gulf of Suez, capable of producing 1.35m tons of ethylene and polyethylene.
SK E&C will be responsible for the construction of the $900m polyethylene plant, which will begin construction in the second half in 2014 and take more than four years to complete by early 2019.
Ahn Jae-hyun, head of SK E&C's global marketing, said: "Following the Eurasia underwater tunnel project in Turkey and the Sapien-Senamnoi hydropower construction project in Laos, we have had ample experience in large-scale projects involving huge amounts of project financing. We will actively pursue plant projects in North Africa and other sub-Saharan African countries such as Ghana and Gabon."