Samsung E&A Wins KRW4.7 Trillion Ammonia Production Facility Project in Saudi Arabia

MT Newswires Live

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Samsung E&A (KRX:028050) secured a contract worth 4.7 trillion won from SABIC Agri-Nutrients Company to build an ammonia production facility in the Kingdom of Saudi Arabia, according to a Samsung E&A filing with the Korea Exchange on Friday.

The new facility will raise SABIC's urea production capacity to 7.4 million metric tons from 4.8 million metric tons on an annual basis, marking a 54% increase compared to current production levels, SABIC Agri-Nutrients Company said in a Thursday release.

Alongside this production increase, the project integrates advanced carbon capture and emissions reduction technologies into its operations, SABIC said.

Construction of the facility is expected to be completed in 2030.

Shares of Samsung E&A fell nearly 1% in recent trade.

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