In the millions of dollars ... Samsung is building a factory in Saudi Arabia

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In the millions of dollars ... Samsung is building a factory in Saudi Arabia

Samsung Engineering announced today, Wednesday, the signing of a deal worth 650 million dollars to build a petrochemical plant in the Kingdom of Saudi Arabia.

"The deal was concluded between Samsung Engineering, a plant-building unit of the Samsung Group," Yonhap News Agency reported. And the Advanced Global Investment Company (AGIC), a subsidiary of the petrochemical provider.

Samsung Engineering will build a PDH dehydrogenation plant to produce propylene. The facilities are in the second industrial zone in Jubail Industrial City on the eastern coast of Saudi Arabia.

The plant, which will be completed in 2024, is expected to produce 840,000 tons of propylene annually.

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