Samsung Engineering shares contract in Algeria

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Samsung Engineering shares contract in Algeria

Samsung Engineering said Thursday it won a 4.3 trillion won ($3.7 billion) order to build an oil refinery in Algeria as part of a consortium.

Under the agreement signed Wednesday with the country’s state oil firm, Sonatrach, Samsung Engineering and Spain’s Tecnicas Reunidas will build a facility capable of refining 110,000 barrels of crude oil per day in Hassi Messaoud, Algeria.

Samsung Engineering will get 1.9 trillion won of the total order, with the rest going to Tecnicas Reunidas. It will take 52 months to complete the facility.

The company said the deal could lead to more projects in the future, as the agreement provides the basis for a sustainable partnership with Sonatrach.

Samsung Engineering previously completed a number of oil refinery construction projects in the United Arab Emirates, Saudi Arabia, Bahrain, Kuwait and Algeria.

BY KO JUN-TAE [ko.juntae@joongang.co.kr]

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