Arab News cited Mr HP Kong Samsung Engineering's executive VP and chief marketing officer as saying that following the completion of 13 mega projects in Saudi Arabia, Samsung Engineering has won three new projects worth about USD 4 billion. These major projects in the Kingdom include Shaybah NGL and Wasit power plant from Saudi Aramco and an aluminium complex from Maaden, signalling the diversification of its traditional hydrocarbon business into the upstream, industrial and infrastructure sectors.

Mr Kong said that about 70% of Samsung Engineering's activity in the Kingdom and the region at large is in hydrocarbon sector with around 30% in the industrial and infrastructure sector such as power generation and metallurgy. The company has emerged as a major engineering, procurement, construction and project management specialist in global market, targeting revenue of USD 8 billion for 2011.

He said that Samsung Engineering had also developed its portfolio by entering into the metallurgy business through the award of the USD 1.2 billion aluminium smelter contract.

(Sourced from Arab News)