A Top Name in
Overseas Projects

Daelim Industrial continuous to maintain strong position both at home, abroad

Daelim Industrial Co. is one of the most experienced overseas builders in Korea with vast know-how and expertise in undertaking mega-projects overseas, especially in the Middle East. The company has been in the building industry for the past 60 years since its founding in 1939, with a large contribution to the growth of the construction industry in Korea.
The company has made strides by accumulating experiences and expertise in a wide-ranging areas of construction including building, housing, architecture, petrochemical. Plant and power plant. As the first Korean construction firm to export its construction technology abroad by utilizing the most experiences it has gained at home, Daelim Industrial has become a world-class builder undertaking mega-projects in a number of regions in the world, especially, in the Middle East.
The mega-projects in the Middle East include the EWDP Project for Kuwait Oil Co. in Kuwait, Ethylene Project for Petropars in Iran and IIP Project for BASF in China, which are all in the final stages of the construction. Other projects include South Pars Gas Development Project Phases 6,7 &8 for Petropars in Iran and Low Density Polyethylene Project of Amir Kabir Petrochemical Complex in Iran.
In addition, the company also has been undertaking the construction of Propane Dehydrogenation/Polypropylene Project in Saudi Arabia and Fluid Catalytic Cracking Project in the Philippines, of which design and procurement and underway.
The company won the $180 million for FCC Project from Petron Corp. last January. The project designed to upgrade the existing facilities in the industrial complex of Bataan,
in the Philippines is executed by Daelim Industrial on a turnkey basis in all aspects ranging from engineering design , procurement of materials and equipment, and construction to test-runs.
Daelim and Technimont of Italy have inked an early work agreement of a $610 million petrochemical plant project in al-Jubail, Saudi Arabia, last January. They are to sign the contract
with Sahara Petrochemical Co. and Basell Polyolefins on the turnkey project on constructing plants capable of producing 470,000 tons of PDH and 450,000 tons of PP per year.
This year, new orders for mega-projects like crude oil, gas exploration, and petroleum refinery and petrochemical are forecast to increase as oil producing countries of the Middle East have accumulated much oil dollars due to high oil prices. The global plant construction industry is likely to enjoy a boom as countries in the Asian region are predicted to resume investment in new plant construction and expansion projects in the wake of the economic turnaround overcoming the Asian financial crisis. In particular, Thailand is planning to invest in new plants and expansion of existing plants under its plan to turn the country into a petrochemical industrial hub in Asia.
Daelim is expected to win high-quality project orders from Saudi Arabia, Kuwait, and other countries in the Middle East being recognized as an EPC contractor with technological prowess by project owners in the oil-rich region. The company also is expected to show a strong record in winning contracts in Asian countries, starting with the Philippines as it tries to diversify its market.
Daelim is a recognized builder in the power plant sector also from its record for a number of power plant projects it completed. The company built a 180 MW combined cycle power plant for BASF-YPC in Nanjing, China, last year and its undertaking a 1,000 MW combined cycle power plant in Gwangyang, Korea, with completion scheduled for this year on turnkey basis.
Project financing is like buyback and export financing are a key factor in winning mega-projects overseas. Even Gulf Cooperation Council countries and Iran with large oil dollar reserves tend to favor project financing in the form of equality participation and attract development funds of advanced countries to hedge against risks. Under the situation, Daelim has been participating in the project financing depending on the scale of projects and demands by project owners in cooperation with Korea Eximbank or other foreign banks. nw

Lee Yong-koo, vice chairman of Daelim Industrial Co., Ltd

Daelim is building South Pars Gas Development Phase 6, 7 & 8 projects of Petropars in Iran.