SAMSUNG E&A, a total solutions provider for the global energy industry, announced through a public disclosure that it had received a Letter of Award (LOA) on 31 January for the EPC of the TA’ZIZ Methanol Project. The contract value is USD 1.7 billion, with a contract duration of 44 months.
According to Industry sources, the project comprises building a methanol plant with a production capacity of 1.8 million tons per annum at the TA’ZIZ chemicals and transition fuels ecosystem being developed in the Ruwais Industrial Complex, UAE.
Hong Namkoong, President and CEO of SAMSUNG E&A stated, “We plan to actively leverage local resources and our network of partners based on our extensive regional experience in the Ruwais Industrial Complex, UAE.” He added, “SAMSUNG E&A will ensure the project’s success by applying our differentiated execution system, which integrates our innovative technologies such as modularization and automation.”
Industry sources further added that SAMSUNG E&A will bring its successful experience of a recently completed methanol plant in Malaysia and the active application of its unique execution system, characterized by modularization and automation, to the project.
Industry sources further explained that TA’ZIZ is a joint venture between ADNOC and ADQ, an Abu Dhabi-based investment and holding company.
