SC Engineering "Won 35.9 Billion Contract for Asset Construction at Hanwha Solutions Ulsan Plant"

[Asia Economy Reporter Yoo Hyun-seok] Comprehensive engineering specialist company SC Engineering announced on the 7th that it has signed a contract worth 35.9 billion KRW (including VAT) for the asset construction work of the Ulsan plant with Hanwha Solutions.

A company official stated, "This contract is evaluated as a stepping stone to continuously participate in construction bids conducted by Hanwha Group, including Hanwha Solutions, which is encouraging," and added, "Through the successful execution of this significant-scale contract, we will meet the trust and expectations of our clients to achieve good results in many future projects ordered by Hanwha Group."

SC Engineering is experiencing an increase in large-scale orders from the first quarter, traditionally the off-season for EPC business, due to increased petrochemical facility investments following economic recovery this year. On the 25th of last month, the company also signed a contract for an 8.5 billion KRW logistics center expansion project with Kumho P&B Chemicals.

Yoo Seung-gyu, CEO of SC Engineering, emphasized, "We are actively participating in bids and conducting numerous negotiations for petrochemical and specialty gas projects where facility investments are increasing due to the current favorable market conditions," and added, "New orders are expected to more than double compared to last year, raising high expectations for EPC business performance growth this year."

He continued, "With the government's promotion of hydrogen economy activation, new businesses for building eco-friendly hydrogen energy facilities are expected to gain momentum. Based on our experience and know-how in comprehensive engineering focused on chemical engineering, we will accelerate new growth engine businesses in eco-friendly LNG power generation and hydrogen energy sectors."