Daelim inked the contract for the USD 220 million (KRW 252.3 billion including the stake of Daelim’s Saudi subsidiary) Rabigh II Project CP-1 Package during a contract signing ceremony held at the head office of Saudi Aramco in Dhahran, Saudi Arabia on July 18, 2012 (Saudi local time). Daelim will implement the project in EPC lump sum turnkey mode, through which its Plant Business Division will take charge from design and procurement to construction.

As a joint project of Saudi Arabia’s state-owned oil company, Aramco, and Japanese Sumitomo Chemical, the Rabigh II Project seeks to construct a mega comprehensive petrochemical complex along the Red Sea coast around Rabigh City.

Daelim won the contract for the CP-1 Package, a project of building a plant producing Cumene through the catalyst reaction process using propylene and benzene and producing Phenol and Acetone using Cumene as raw material. Phenol is generally used for surgery sterilizer and pharmaceutical production process. Acetone is used for the production of paints, abstergents, and plastics. The total construction duration is 36 months from the contract date, and the project is slated to be completed in June 2015.

'Daelim inks contract for Saudi Arabia’s Rabigh II CP-1 Project '