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S. Korean Firms Win $7.2 Bln Gas Plant Deal in Saudi Arabia

Written: 2024-04-03 10:46:48Updated: 2024-04-03 10:50:17

S. Korean Firms Win $7.2 Bln Gas Plant Deal in Saudi Arabia

Photo : YONHAP News

Samsung E&A and GS Engineering and Construction have won a seven-point-two billion dollar deal to expand a gas plant in Saudi Arabia.

The presidential office announced the deal on Wednesday, calling it the result of President Yoon Suk Yeol’s summit diplomacy. 

The Fadhili Gas Increment Program is a project run by Saudi Arabia's state-owned oil company, Saudi Aramco, to expand the capacity of an existing gas plant and the deal marks the largest order for a South Korean company in the Middle Eastern country. 

The top office launched the deal as the result of Yoon’s summit diplomacy, noting that Yoon and Saudi Crown Prince Mohammed bin Salman agreed to seek massive economic cooperation in infrastructure during the Saudi prince’s visit to Seoul in November 2022 and in October last year during Yoon’s state visit to Saudi Arabia. 

Yoon’s office added that thanks to the deal, South Korean companies’ overseas construction orders have so far reached 12-point-seven billion dollars this year, more than double the comparable figure for last year. 
The top office said the government will continue to provide full support for South Korean companies seeking to win orders from Saudi Arabia for its major infrastructure projects.

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