Taewoong Logics Signs Overseas Project Transportation Contract with Samsung E&A

Taewoong Logistics, a comprehensive logistics service specialist, announced on the 24th that it has signed a transportation contract with Samsung E&A for overseas EPC (Engineering, Procurement, and Construction) projects.

This contract pertains to overseas EPC projects contracted by Samsung E&A, including the $8 trillion-scale Padilli Gas Plant project of Saudi Arabia's Aramco (ARAMCO). Taewoong Logistics will be responsible for transportation related to these projects going forward.

A Taewoong Logistics official stated, "This contract is the result of proven excellent service quality through various projects previously conducted with Samsung E&A. We have proactively secured future business opportunities for our project logistics operations. Considering the typical duration of EPC projects, mid- to long-term revenue growth is expected."

Taewoong Logistics previously signed a transportation contract with Samsung E&A in 2020 for the Dos Bocas refinery project in Mexico, and in 2022, it signed and executed transportation contracts for the Saudi APOC PDH&UTOS project and the Saudi JAFURAH gas processing facility project.

Jaedong Han, CEO of Taewoong Logistics, emphasized, "As Samsung E&A’s logistics partner, we will strive to provide impeccable service. Amid market uncertainties caused by rising ocean freight rates and various internal and external factors, we will be a reliable ally for EPC projects where punctuality is critical."