Saudi Calcined Petroleum Coke Co. (SCPC) has awarded a $400 million contract to South Korea’s Hanwha Engineering and Construction Corp. for the construction of a chemical plant in Saudi Arabia, Korean state news agency Yonhap reported Monday.
Hanwha E&C will complete the engineering, procurement and construction of the project.
The deal was signed last week in Al Khobar, Saudi Arabia. The new plant will be built in the Jubail Industrial City in the Eastern Province of the kingdom.
Upon completion in H1 2018, the facility is expected to produce about 670,000 tons of calcined petroleum coke per year.
SCPC was founded by GASAN Investment and Industrial Development Company in April 2015 and produces calcined petroleum coke, which is used to make anodes for the aluminum, steel and titanium smelting industries.
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