Samsung Engineering bags a $250-million contract

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Samsung Engineering bags a $250-million contract

Samsung Engineering, a Korean plant builder, said Tuesday it has received a $250 million engineering order for an oil-processing plant in Mexico.

Under the deal with Mexican state-run oil company Petroleos Mexicanos’ unit PTI-ID, Samsung Engineering will draw up an engineering plan and procure some facilities for the oil plant at Dos Bocas in Tabasco, 320 kilometers (199 miles) east of Mexico City, by May 2020.

The deal - signed Monday - represents a hike from an initial $140-million agreement in August. PTI-ID has yet to select a builder for the plant, which will be capable of producing 340,000 barrels a day.

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