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Samsung Engineering awarded major lube oil refinery contract in Saudi Arabia

7:43 AM MDT | October 22, 2012 | Natasha Alperowicz

Samsung Engineering announced today that it has been awarded an $871-million lump-sum turnkey contract by Saudi Aramco Lubricating Oil Refining (Luberef) to expand Luberef's refinery based in YanbuÊ¿, Saudi Arabia. The contract-signing ceremony took place on Saturday at Dhahran, Saudi Arabia, in the presence of Luberef's president and CEO Ali Al Hazmi and Samsung Engineering's executive v.p./marketing Kim Dong-Woon. Luberef, a joint venture in which Saudi Aramco holds 70% and Jadwa Industrial Investment (Riyadh) 30%, has commissioned Samsung Engineering for...

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