Builder clinches contract to build oil refinery facility

Korean builder SK Engineering & Construction said yesterday that it has clinched a $1.1 billion contract to build an oil refinery facility in Saudi Arabia.

Under the deal with the state-run oil company Saudi Aramco, SK E&C will build an oil refinery plant with a daily capacity of 400,000 barrels of crude and a terminal to ship the petrochemical products in Jazan Economic City in southwestern Saudi Arabia.

The Jazan Economic City project is a government-led new industrial complex with refinery facilities, power plants, commercial districts and residential areas.

The Korean company said it won one of the nine package deals to design and build the Saudi industrial city project. It will take 48 months to complete by the end of 2016, said the company.

Yonhap