Samsung Engineering & Associates secured a 2.48 trillion won ($1.9 billion) contract from Abu Dhabi National Oil Company to construct a methanol production facility in the United Arab Emirates.
The Korean engineering firm will handle the engineering, procurement, and construction of the plant, located in the TA’ZIZ industrial complex within the Ruwais Industrial Zone. The facility aims to produce 5,000 tons of methanol daily, with completion scheduled for late 2027.
The contract marks Samsung E&A’s first international deal of 2024, building on its track record in Malaysia’s methanol sector. The company plans to implement modular construction techniques, where major components are pre-assembled off-site to streamline the building process.
Samsung E&A’s CEO Hong Namkoong signed the agreement with TA’ZIZ president Marshal Al Kindi in Abu Dhabi. The company indicated that its previous methanol project experience and technical capabilities were key factors in securing the contract.
The project aligns with UAE’s economic diversification strategy, as the country seeks to expand its industrial base beyond traditional oil and gas operations. For Samsung E&A, the contract reinforces its position in Middle Eastern industrial projects, where Korean engineering firms have been gaining market share.
