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FINANCIAL NEWS
Samsung to bid for Aramco deal
11 May 2011
(MENAFN) Samsung Engineering Company’s Chief Marketing Officer, Kong Hong- Pyo, said that the company would apply to the bid for developing a chemicals plant that is being planned by Aramco and Dow Chemical in Jubail on the Gulf coast, reported Arabian Business.
If Samsung bags this deal, it would add to the existing deals it had already signed with Aramco during the last two years. The marketing officer confirmed that Samsung would always be interested in deal with Armco as they add great value to both companies.
Aramco and Dow Chemical had already stated that the plans of the plant would be done by June 2011.
It is worth noting that Samsung has existing projects in the Gulf region, with USD6 billion of investments in UAE project, a bid submitted to Saudi Basic Industries Corp and another to Qatar Petroleum.
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