Samsung E&A Bags KRW4.7 Trillion Saudi Fertilizer Plant Contract
Samsung E&A (KRX:028050) has landed an engineering, procurement, and construction contract valued at 4.7 trillion won to build a fertilizer industrial complex in Saudi Arabia.The company signed the agreement for the SAN-7 Project with SABIC Agri-Nutrients, the fertilizer subsidiary of petrochemical giant SABIC, according to separate announcements on Thursday.The project covers the construction of an ammonia plant with an annual capacity of 1.2 million metric tons, alongside two urea plants capable of producing a combined 2.6 million metric tons annually.The new facilities will increase SABIC's overall production capacity by 54%, bringing total annual output from 4.8 million metric tons to 7.4 million metric tons.Trial operations are expected to start in the third quarter of 2030, with full commercial production slated to begin in the fourth quarter of the same year. Construction is scheduled to run from Oct. 12, 2026, through Dec. 11, 2030.The contract follows strong financial results for Samsung E&A, which recently reported a 19.8% rise in second-quarter sales and a 28.9% year-over-year jump in attributable net income.
