RIYADH, 25 March 2007 — Samsung Saudi Arabia Ltd., has won six mega projects worth SR9.4 billion recently, reflecting the strength of this South Korean company in terms of high-end technology, human resources and quality control, Shin-Youl Kang, vice president and resident director of Samsung Saudi Arabia, said here yesterday.
Kang said that “Samsung Saudi Arabia, established in 1999 by Samsung Engineering of South Korea, had emerged as one of the leading companies in petrochemical, oil and gas, refinery, industrial and environmental plants sector.”
The six major projects currently being executed by Samsung include Tasnee Ethylene Project, APPC PDH/PP Project, Sharq EG Project, Ibn Zahr PP-3 Project, Ibn Zahr OCT Project and Kayan PP Project.
Referring to the growth of Samsung Saudi Arabia, Kang said that “the company has grabbed largest market share in Jubail Complex No.1” “Samsung believes that the successful completion of on-going projects with clients’ satisfaction especially in terms of quality, schedule and safety, is one of the key factors contributing to our business development and trust of our clients,” the chief of Saudi operation said.
He pointed out that Samsung has already completed two projects, namely SPC PDH/PP Project and Petrokemya Butene-1 Project, with the latter project completed 75 days ahead of schedule. He said that the company was eyeing for more projects especially after the official announcement of some mega projects made by the Saudi government.
Referring to the massive construction boom in Saudi Arabia, Kang said that a huge amount of investment especially in social infrastructure, industrial, oil & gas, and petrochemical sectors is being made. Many projects are coming up in Jubail-2 and Yanbu Industrial Complex, Petro-Rabigh Complex, economic and knowledge cities, Yanbu/Jubail Export Refinery, Ras Tanura Refining/Petrochemical Complex, etc.
He said that Samsung expects that the local resources including work force, construction material such as rebar, concrete and crane will be in critical shortage since most of projects are executed at the same time. He, however, said that Samsung has strong experience in petrochemical, oil and gas, refinery, industrial, and environmental plants.
“All lessons learned from these experiences have been shared by Samsung’s intranet system, which enables Samsung to improve quality and skill during project execution,” Kang said, adding that Samsung has been maintaining good relationship with local authorities and local society to coordinate all developmental efforts.
“Moreover, we also work hand-in-hand with various government agencies including the labor office, Royal Commission and charity organizations,” he said, noting that the company always seeks to promote Saudization.