SC Engineering "Expecting More Than Double Orders This Year Compared to Last Year"

[Asia Economy Reporter Hyunseok Yoo] SC Engineering announced on the 19th that from the first quarter, traditionally the off-season for EPC (Engineering, Procurement, and Construction) business, contract signings are imminent starting with a high value-added industrial basic materials sector project, and negotiations for multiple large-scale projects are underway. The company expects this year's order amount to more than double compared to the previous year.

A company official explained, "Although the first quarter is traditionally the off-season for EPC business, this year there are large-scale bidding opportunities and order achievements from major clients expanding from the first quarter, which is very encouraging."

Currently, SC Engineering is actively participating in bids and negotiating orders mainly in sectors where facility investments are increasing, supported by the favorable market conditions in petrochemical and specialty gas fields.

The resumption of projects delayed due to the impact of COVID-19, along with the continued expansion of facility investments, brightens SC Engineering's order outlook. Additionally, the company's reputation and strong trust from clients, earned through successfully completing numerous preceding projects by maximizing process efficiency, ensuring stable delivery, and systematic project management, are expected to drive a continuous upward trend in orders.

Seungkyu Yoo, CEO of SC Engineering, stated, "Although new orders were sluggish last year due to delays in facility investments in upstream industries, orders have been active since the first quarter this year. We expect to achieve performance improvement this year through increased orders and entry into new growth businesses."

Meanwhile, on the 11th, SC Engineering established the Yeosu branch to strengthen EPC business momentum and expand orders and profitability. The expected scale of large-scale project orders in the Yeosu area, which SC Engineering is focusing on this year, is approximately 150 billion KRW, and the company plans to make the Yeosu branch a strategic base to fully concentrate on securing orders.