DYPNF Secures Additional 19.7 Billion KRW for Shahin Project
DYPNF has secured its second order in the country's largest petrochemical project, the 'Shahin Project.' Following the PCS (Pneumatic Conveying System), it will supply silo equipment.
On the 20th, DYPNF announced that it signed a contract worth 19.7 billion KRW with Hyundai Engineering to supply silo equipment related to the Shahin Project. Silos are used to store petrochemical products and various forms of powder transported through conveying systems. They are large-scale facilities that store and mix the final products of petrochemical plants, such as polymers (PP, PE, etc.), before shipment.
DYPNF previously disclosed on the 30th of last month that it had secured a PCS project worth approximately 36.3 billion KRW through Hyundai Engineering. It is known that the company succeeded in winning this project through competitive bidding against global firms, based on its excellent technological capabilities.
The Shahin Project is a business in which Aramco, the parent company of S-Oil and a comprehensive energy and chemical company in Saudi Arabia, is establishing a mega petrochemical complex in Ulsan. The investment scale reaches 9 trillion KRW. It will build the world's largest steam cracker (with an annual ethylene production capacity of 1.8 million tons), a TC2C facility applying new technology that converts crude oil directly into petrochemical raw materials (LPG, naphtha), and polymer facilities and storage tanks that produce high value-added petrochemical products used as raw materials for plastics and synthetic resins.
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A DYPNF official said, "We were able to achieve additional results based on optimized design and supply capabilities and silo manufacturing technology," adding, "We are actively conducting sales and investments in eco-friendly future industries such as secondary batteries, waste battery facilities, and waste plastic recycling, centered on the petrochemical industry."
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