[Sponsored Report] SK E&C diversifying overseas portfolios

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[Sponsored Report] SK E&C diversifying overseas portfolios


Employees of SK E&C at the Esmeraldas refinery factory maintenance project in Ecuador.

SK Engineering & Construction has succeeded in making inroads into overseas market. One of the fields is the overseas market in plant field, which it is currently a robust civil engineering and construction field.

SK E&C inked a $1.9 billion project from Saudi Arabia in February 2011 - the Wasit gas plant project, commissioned by Aramco, a state-owned oil company in Saudi Arabia. The project entails construction of a double-layered gas treatment facility, sulfur and other utilities facility, and a natural gas liquid separating facility.

The Wasit gas plant is located 50 kilometers north of Jubail, the largest industrial city in Saudi Arabia. When it’s complete, it is expected to treat a daily average of 70 million meters cubed of natural gas extracted from the Hasbah and Arabiyah gas fields for domestic consumption.

SK E&C is also receiving orders for environment friendly constructions and is expanding in the Middle East market.

SK E&C also won the contract to build residential units for Petroleum Institute (PI) employees in Abu Dhabi, which requires strict environmental standards and eco-friendly construction method. This $47 million contract includes building apartment complex and villas.

The stringent green construction regulation estidama, or sustainability, was legislated by the government in order to minimize pollution in Abu Dhabi. Since 2011, it is applied to building constructions as a part of its 2030 Development Project.

Besides the Middle East, SK is expanding to Asia and Latin America, working to build a sustainable portfolio. By diversifying the regions it is succeeding to advance in power plant and communications fields.

SK E&C inked a $117 million deal with Thailand in March 2011. Under the deal with PPT, Thailand’s state-run oil company, SK E&C will build a natural gas compressor station and facility to transport gas in the Map Ta Phut industrial complex on Thailand’s southern coast.

SK E&C has been strengthening its status in Thailand since twenty years ago. This, along with deals in Saudi Arabia, is further evidence of its success in the gas plant construction field.

In September 2011 SK E&C won the bid for a $662 million thermal power project from Panama. PACO Plant will become the largest thermal power plant in Panama. With this, the business portfolio of SK E&C has become even stronger.

By advancing in Latin America with local companies already strongholds, SK E&C’s business ability in the new market has been tested for its strength.

By Lee Ji-hyun [concordia@joongang.co.kr]
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