Samsung E&A (Seoul, South Korea) received a Letter of Award (LOA) on 31 January for the engineering, procurement and construction (EPC) contract for the TA’ZIZ Methanol Project. The contract value is $1.7 billion, with a contract duration of 44 months. TA’ZIZ is a joint venture between ADNOC and ADQ, an Abu Dhabi-based investment and holding company.
This project includes the construction of a methanol plant with a production capacity of 1.8 million tons per year at the TA’ZIZ chemicals and transition fuels ecosystem being developed in the Ruwais Industrial Complex, U.A.E.
Samsung E&A will bring its successful experience of a recently completed methanol plant in Malaysia and the active application of its unique execution system, characterized by modularization and automation, to the project.
Hong Namkoong, President and CEO of Samsung E&A stated, “We plan to actively leverage local resources and our network of partners based on our extensive regional experience in the Ruwais Industrial Complex, UAE.” He added, “Samsung E&A will ensure the project’s success by applying our differentiated execution system, which integrates our innovative technologies such as modularization and automation.”