Daelim Wins Aramco Contract

Company to build Yanbu refinery in Saudi Arabia for 2 tln won as it signs contract with Aramco

On July 28, Daelim signed a contract for the construction of Yanbu refinery plants with a total amount of 2 trillion won at the Aramco’s headquarters office in Saudi Arabia. This project demonstrates the largest volume among new orders of the domestic construction companies this year. As of the end of July, Daelim has received new orders worth 3.4 trillion won from overseas markets.
This project was placed by the government-run Saudi Aramco and includes building new oil refinery plants with a total production volume of 400 thousand refined oils per day in the Yanbu Industrial City located in the western Saudi Arabia.
Among four construction packages, Daelim received two packages independently: EPC-3 process facilities for hydrotreating diesel and naphtha and recovering acid gases and sulfur, and EPC-4 process facilities for hydrocracking. This project will be completed in May 2014 and carried out on EPC lump sum turnkey base.
Daelim Industrial also won a project order for the construction of a gas refinery in Kuwait worth some 1 trillion won on June 11 from Kuwait National Petroleum Co., the company said recently.
The projected gas refinery will be located in the Al Ahmadi Oil Refinery Complex and is to be built in 36 months for the production of ethane and propane butane from natural gas and condensed refined oil, the company said quoting from the Letter of Agreement that it received from the KNPC.
Daelim had to beat the likes of SK Construction, and GS Construction among the seven bidders in an open bidding for the mammoth project and Daelim was confident even before its bid was opened that it has a competitive edge, banking on its track record in the Middle East country, officials of the company said.
They said the Kuwaiti government informed them they will undertake the construction of the facilities for an LPG plant alone on a turnkey basis and a formal contract will be signed in June.
The company got the order for a project to build a polyethylene plant inside the Multi-Industrial Complex from Aramco for 301.1 billion won, the officials said.
North Gyeongsang Province held a rally to turn Naktong River into a famous-brand river through the Four Rivers Restoration Project, which the government kicked off recently designed to not only purify the waters but also make the rivers environmentally friendly as well as flood free by dredging the river beds and strengthening the river banks.
A number of key executives of Daelim E & C were among the representatives of other construction firms participating in the project on Naktong as members of the consortium at the rally which kicked off the work on the estuary of the river and also resolved to do every thing for the success of the huge project.
Dignitaries at the rally included Chairman Lee Sang-chon of the North Gyeongsang Province Council, chiefs of the 11 counties along the river, members of the Four Rivers Restoration Project Special Support Committee and members of the local council , along with some 700 local residents in the towns, along the longest river in Korea.
Established in 1939, Daelim Industrial Co., Ltd., with its E&C (Engineering and Construction) and Petrochemical groups has been the flagship enterprise of the Daelim Business Conglomerate.
In 1966, Daelim became Korea’s first company to work on an overseas construction project. Since 1970, Daelim has enjoyed a good reputation for its successful completion of numerous projects in the Middle East and Southeast Asia. Now Daelim is recognized as a global contractor with cutting-edge technologies and excellent management abilities, boasting a distinguished record of performance in more than 24 countries.
With a top-notch staff of over 2,700 specialists, Daelim’s E&C group provides a comprehensive array of services including feasibility studies, project management, engineering, procurement, construction, commissioning & start-up, operation & maintenance, and project financing. The fields covered by Daelim’s high-quality and cost-competitive services include gas, petroleum refining, chemical & petrochemical, power & energy plants, building & housing, civil works as well as a range of industrial facilities. nw

President Kim Jong-in of Daelim Industrial Co. A view of a power plant built by Daelim Industrial overseas.