FINANCIAL NEWS

Saudi Aramco, Sumitomo award USD1.8b contract to GS

26 Jun 2012

(MENAFN) South Korean constructor GS Engineering & Construction secured a USD1.78 billion contract from Saudi Aramco and Japan’s Sumitomo Chemical, Reuters reported.

The contract comprises expansion works for Petro Rabigh complex, Saudi Aramco and Sumitomo said in a statement.

Under Rabigh II, an existing ethane cracker will be expanded and a new aromatics complex will be built using around 3 mln tpa of naphtha to make higher-value petrochemical products, the statement explained.

It is worth mentioning that GS focuses on architecture, civil engineering, housing, plant and power and environment segments. It is also involved in hotels business through its subsidiary, Parnas Hotel.

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