South Korea's Samsung E&A announced on Thursday that its joint venture with Taiwan's CTCI has signed a $418 million Engineering, Procurement and Construction (EPC) contract with Ras Laffan Petrochemicals (RLP) for an ethylene storage facility in Ras Laffan Industrial Complex.

Samsung E&A's share of the contract valued at approximately $215 million. The project is expected to be completed within 34 months.

Ras Laffan Petrochemicals is a joint venture between QatarEnergy, Qatar's state-owned energy company, and a subsidiary of Chevron Phillips Chemical Company .

The scope of the contract is to build storage facilities and utility infrastructure (U&O) within the same complex as the RLP ethylene project awarded to Samsung E&A in 2023 and currently under execution. The facilities will include 30,000 metric-tonne storage tanks, compressors, and pumps to ensure ethylene availability during maintenance and emergencies. Samsung E&A's scope encompasses EPC of key infrastructure for the project.

Hong Namkoong, President and CEO of SAMSUNG E&A said, “As we have secured a linked order
with Ras Laffan Petrochemicals, we will successfully carry out the project based on our
performance experience and innovation strategy and strengthen our position in the Qatari
market.”