Samsung E&A, a total solutions provider for the global energy industry, has secured a contract worth $955 million for a biorefinery that will have the capability to produce Sustainable Aviation Fuel (SAF) and other biofuels such as Renewable Diesel / Hydrogenated Vegetable Oil (HVO) to cater to the growing demands of the global aviation and transportation industries by tapping each partner’s expertise.
It is Samsung E&A’s first entry into the SAF market, a new business initiative in the era of energy transition.
Samsung E&A said as per the Letter of Award (LoA) from Petronas Mobility Lestari (PMLSB), a subsidiary of Malaysian energy Petronas; Enilive and Euglena Company, it will be providing the EPCC (Engineering, Procurement, Construction and Commissioning) services for a bio-refinery project in Malaysia from Enilive on behalf of a joint venture consisting.
The deal will be officially signed by the end of January 2025.
This biorefinery will be located within Petronas’ Pengerang Integrated Complex (PIC) in Johor, Malaysia, and upon completion, will have the capability to process about 650,000 tonnes per year of raw materials to produce SAF, HVO, and bio-naphtha.
On the contract win, Hong Namkoong, President and CEO of Samsung E&A said: "Since we are carrying out the project in Malaysia, a major Asian market for us, we expect stable performance with our accumulated experience and technology."
"By successfully carrying out the company’s first SAF project, we will expand our position in the carbon-neutral, eco-friendly field in the future," he stated.
Meanwhile, earlier this year, Samsung E&A changed its name from Samsung Engineering to reflect the evolving business environment of the energy transition era and its future scalability.
Further, it established a mid-to-long-term core strategy of “addressing societal challenges through technology” and is shifting its entire organizational capacity to advancing new energy transition businesses such as hydrogen, carbon neutrality, and SAF.-TradeArabia News Service