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Daelim & GS Engineering to build a cracker at a petrochemicals complex

June 17/2011

(Arabian Oil and Gas) -- South Korean EPC powerhouses Daelim Industrial and GS Engineering and Construction are frontrunners to win a bid to build a cracker at a petrochemicals complex planned by Saudi Aramco and US Dow Chemical, industry sources have told Reuters.

Sources close to the bidding process said the two firms were finalizing their proposals and await a final word from the partners in the project, which will be located in Jubail on the Gulf coast.

A spokesman for Daelim told Reuters that the company joined the bidding process but did not provide further details.

The cost of the project, still called Ras Tanura Integrated Project (RTIP) as it was to be integrated with an expansion of the Ras Tanura refinery, is around USD 20 billion, Aramcos chief executive Khalid Al-Falih said in December.

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