News: A Pioneer in Overseas Construction Business | BusinessKorea

Tuesday, March 20, 2018

Daelim Industrial develops business projects with its good reputation in the Middle East.
15 October 2009 - 8:37pm

Founded in 1939, Daelim Industrial Co. is considered the flagship company of the Daelim Group. Korea’s oldest contractor, the company has been selected as one of the top 10 Korean construction companies for 47 consecutive years. In 1966, Daelim went down in history as Korea’s first company to work on an overseas construction project. Both home and abroad, Daelim possesses a strong reputation for its construction work. The company is currently making rapid strides to establish itself as a global contractor equipped with cutting-edge technologies and excellent management. Daelim boasts of a distinguished performance record in more than 24 countries.

With a top-notch staff of over 2,700 specialists, Daelim’s E&C group provides a comprehensive array of services including feasibility studies, project management, engineering, procurement, construction, commissioning & start-up, operation & maintenance, and project financing. The fields covered by Daelim include gas, petroleum refining, chemical & petrochemical, power & energy plants, building & housing, and civil works as well as a range of industrial facilities.

The company has predominantly won orders from Middle Eastern countries, including Saudi Arabia, Kuwait and Iran. In May, Daelim was awarded a contract to construct polycarbonate production plants for Saudi Kayan Petro-chemical Company of Saudi Arabia. Its total construction cost is estimated at US$1.328 billion. Daelim will build polycarbonate production facilities with a capacity of 260,000 tons per year. Located in Al-Jubail in Saudi Arabia, it will be the world’s largest such facility. Construction began back in February 2007, and the company expects the project be complete by April 2010, a total of 38 months. Compared to other petrochemical plants, the project requires more sophisticated construction capacity.

Daelim has also recently signed another lucrative deal for a large-scale oil refinery project in Saudi Arabia. According to the deal, Daelim will build a new oil refinery with a capacity of 400,000 barrels per day in the Jubail Industrial Complex. Daelim is also currently undertaking construction of a polymer complex, a polycarbonate plant and a high-density polyethylene plant in the region. The company continues to take the lead in the Saudi Arabian construction market.

In Iran, Daelim completed Phases 6, 7 and 8 of Petropars’ massive South Pars Gas Field Development project. The phases involved the mechanical completion of the onshore process facilities. These facilities, which can process a total of 3.9 billion standard cubic feet of raw gas per day, consist of three phases and six trains. The capacity of each train is 650 Million Standard Cubic Feet per Day of gas (MMSCFD). The South Pars Gas Field Development area is located in the Persian Gulf and shared by Iran and Qatar. The field is believed to contain 56 billion barrels of condensate. Discovered in 1990 by the National Iranian Oil Company, it is the world’s biggest gas field. Daelim completed Phase 1 of the project prior to receiving orders for Phases 6, 7 & 8. The project has further increased Daelim’s stature in the Iranian gas industry.

In 2008, Daelim posted US$4 billion in overseas orders, double what it set at the beginning of the year. As of 2009, the company is engaging in 12 projects in foreign countries, including Iran, Saudi Arabia, Kuwait and the Philippines. The company has been evaluated to possess strong project management capabilities thanks to a combination of rich experiences and excellent technologies

This year, Daelim has been diversifying its markets by analyzing market conditions and strengthening activities in the Middle East in areas such as Saudi Arabia, Kuwait and Iran. Daelim is eying the growth potential of the overseas power generation and energy plant market as part of efforts to find a new growth engine for its overseas business projects.


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