[Asia Economy Reporter Moon Hyewon] The Korea Federation of Medium-sized Enterprises announced on the 4th that its member company Samkang M&T has signed a contract to supply pipe rack modules for crude oil production facilities worth 121.3 billion KRW with Samsung Engineering.
The 26,000-ton pipe rack modules to be used in the Dos Bocas refinery project in Mexico will be delivered over 14 months until January 23, 2022.
By applying a modular construction method produced in Korea in a finished product form, they plan to minimize uncertainties such as process delays, weather, and manpower supply issues that are problems of the existing stick built method, which involves on-site fabrication.
Samkang M&T's pipe racks are used in key crude oil production processes such as Naphtha Reformer (REF), Gas Oil Hydrotreating (GOHDT), and Fluid Catalytic Cracking (FCC) processes.
Song Mooseok, Chairman of Samkang M&T, said, “The domestic conversion of overseas production volumes based on cooperation with large domestic construction companies is the most desirable path for related industry development as well as job creation to overcome crises,” adding, “Through continuous technological innovation and market expansion efforts in all business areas including shipbuilding, offshore plants, and offshore wind power, we will lead the post-COVID era economic leap of the Republic of Korea.”
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