Samsung Heavy Industries has recently signed a contract for a 640-million-dollar project made jointly by Malaysia and Thailand, for which Samsung had made a consortium with European developers. This development project for an offshore gas plant is known to be the largest of this kind in Asia.
In this construction project, Samsung, as a main contractor, is to take charge of building the plant's core facilities worth of $352 million, 55% of the total, which include gas production facility ($297 million), condensate storage facility ($35 million) and accommodation facilities ($20 million). The rest of the work such as building small-scale production facilities and laying submarine pipelines, worth $ 290 million in total, will be carried out by Technip S.A in France and Saipem S.P.A in Italy, who participate in the consortium led by Samsung.
With the latest contract, Samsung Heavy Industries has received $1.75 billion worth of orders this year alone, securing two years of work for the company. Samsung's plan in the near future is to concentrate its ability on having orders for building value-added products such as cruise liners and other vessels for special use.