Samsung was the low bidder for the engineering, procurement and construction contract, which is expected to be completed by May 2011 (MEED 28:4:08).
Samsung's bid of $314m was about 11 per cent lower than the next best offer of $349m made by by Spain's TR. JGC Corporation of Japan was the only other bidder, with a price of $359m.
The project calls for the routing of about 12,000 barrels a day of unconverted oil from the existing hydrocracker at the Bapco refinery to the unit, which will convert the feedstock to 400,000 tonnes-a-year of sulphur-free lube base oil, predominantly for export (MEED 13:1:06).
The US' Jacobs Engineering is the front-end engineering and design contractor.
The award caps a successful 18 months for Samsung, which has won more than $2bn worth of contracts in the region in that time.
Its successful bids include two major plant contracts for Saudi Kayan Petrochemical Company in Jubail, the world's largest single-train ammonia plant for Saudi Arabian Mining Company (Maaden), and the world's largest olefins conversion unit for Abu Dhabi Polymers Company (Borouge).
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.