South Korean engineering giant Samsung announced on Thursday it had secured rights to build plants worth $2.48 billion in Abu Dhabi.
A deal was signed on Wednesday between the state-owned Abu Dhabi Oil Refining Co., a subsidiary of Abu Dhabi National Oil Company (ADNOC), and Samsung. The South Korean company will construct a carbon black unit and a delayed coker unit in Ruwais, west of Abu Dhabi.
Carbon black is used as a pigment and reinforcement material for auto tyres, while delayed coker is used in oil refineries.
Samsung Engineering said in a statement that the facilities will be able to produce 40,000 tons of carbon black per year and process 30,000 barrels of crude oil a day after their completion by January 2016..
Samsung is one of South Korea’s leading industrial plant builders and has won a total of eight orders worth $9.1 billion from ADNOC over the past five years.
It won a $1.5 billion construction order from a unit of the United Arab Emirates’ state-run Abu Dhabi National Oil Company (ADNOC) for the Shah gas project in April this year.