Samsung Engineering, one of the world’s leading engineering, procurement, construction, and project management companies announced today that it recorded $1.9 billion revenue in the first quarter of 2023.
The company claims that it continued to create solid results based on stable performance, such as in major overseas projects in Mexico, Malaysia, and Saudi Arabia, but also simultaneously implemented technological innovations such as modularization and automation throughout its projects globally.
In the first quarter, the company secured contracts worth $1.6 billion.
Samsung Engineering received a Pre-Construction Services Agreement contract for ADNOC’s Hail & Ghasha Gas Development Project in the first quarter and continues to initiate stable growth after the second quarter with an EPC-linked order strategy through continued participation in FEED and a selective value-oriented project bidding strategy.
A Samsung Engineering spokesperson said, “Samsung Engineering will enhance our performance competitiveness through constant technological innovation and become an EPC company with a different dimension.” Further stated, “In the era of Energy Transition, we will accelerate the promotion of future new businesses to overcome social challenges and strengthen the foundation for mid-to long-term sustainable growth.”