A drawing of a new terminal set to be built at Taiwan Taoyuan International Airport by Samsung C&T(Samsung C&T)
Samsung C&T said it has signed a deal to build an undersea high-voltage direct current network that connects the United Arab Emirates’ offshore oil production facilities and Abu Dhabi’s land power network.
Samsung C&T said it would form a consortium with Belgian construction company Jan De Nul for the engineering, procurement and construction project worth 3.5 trillion won ($3 billion).
Samsung C&T’s portion of the project amounts to 2.7 trillion won.
This brings the company’s cumulative order intake in the construction sector to 12.5 trillion won this year, exceeding its annual target of 10.6 trillion won. Samsung C&T won overseas orders worth more than 7 trillion won this year.
The project involves building power converting stations (AC/DC conversion facilities) in two overland sites near Abu Dhabi and on two islands with offshore oil field facilities, as well as 1,000-megawatt and 600-megawatt submarine transmission networks that stretch 137 kilometers and 122 kilometers from the shore, respectively.
It is UAE’s first HVDC project, awarded by Abu Dhabi National Oil.
A consortium consisting of Korea Electric Power Corp., Kyushu Electric Power of Japan and EDF of France is running the project with a 40 percent stake.
Samsung C&T has experience in a number of power generation projects and construction of substations in the UAE.
Beginning with the Al Shuweihat S2 combined thermal power project, the company took part in four power generation facility projects in the UAE, including the Barakah nuclear power plant, the second phase of Emal combined thermal power plant and Fujairah F3 combined thermal power plant.
“With the new order, we will be expanding business to HVDC linked to construction of power plants and substations,” a Samsung C&T official said.
“We plan to take part in power transmission projects linked to renewable energy generation and projects to interconnect the power grids of different countries.”
Earlier this year, Samsung C&T landed a 1.85 trillion-won deal to build a liquefied natural gas export base in Qatar; a 1.24 trillion-won project to build a terminal at Taiwan Taoyuan International Airport; and a 500 billion-won order to build a section of Singapore’s metro system.
By Korea Herald (firstname.lastname@example.org