Samsung E&A Co.’s headquarters (Yonhap)
SEOUL, Dec. 11 (Korea Bizwire) – Samsung Engineering & Architecture (E&A) announced on December 11 that it has received a Letter of Award (LOA) for the Phoenix Bio-Refinery Project in Malaysia.
The contract, valued at $955 million (₩1.37 trillion), accounts for 13.6% of the company’s revenue based on its consolidated financial statements from last year.
The project involves the construction of facilities capable of producing 650,000 tons of sustainable aviation fuel and bio-naphtha annually. The project is expected to span 44 months from the contract signing.
Samsung E&A stated that it anticipates finalizing the contract in January 2025 and will issue a definitive public announcement upon completion. The project reflects Samsung’s continued commitment to advancing sustainable energy infrastructure in the region.
Ashley Song (ashley@koreabizwire.com)
