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March 14, 2013
Samsung Engineering signs its first deal in Azerbaijan with Socar fertilizer award
Samsung Engineering Co. (Seoul, South Korea; www.samsungengineering.co.kr) signed a contract, worth $650 million (€498 million), with State Oil Company of Azerbaijan Republic (Socar), Azerbaijan’s state-owned company, for the Socar Ammonia and Urea Complex project. Socar CEO Rovnag Abdullayev and Samsung Engineering president & CEO Park Ki-Seok joined the historic event to ink the new partnership officially.
The ammonia and urea plant will be built in the Sumgayit city, 35 km from the capital Baku, in Azerbaijan. The plant is slated to produce 1,200 ton/d of ammonia and 2,000 ton/d of urea.
Samsung Engineering is responsible for engineering, procurement, construction and pre-commissioning on a lump-sum turnkey basis with completion set for 2016.