SEOUL, March 14 (Yonhap) -- Samsung Engineering Co., South Korea's largest industrial plant builder, said Thursday that it has secured a US$630 million order to build a fertilizer plant in Azerbaijan in its first deal won in the former Soviet republic.
Under the deal with State Oil Company of Azerbaijan Republic, a state-owned oil and gas company in the resource-rich state, Samsung Engineering will build the ammonia and urea complex in Sumgayit, a city 35 kilometers northwest of the Azerbaijan capital city of Baku.
The South Korean company said it is scheduled to complete the turnkey project by 2016.
The facility will produce 1,200 tons of ammonia and 2,000 tons of urea per day for domestic use and exports, according to Samsung Engineering.
Samsung Engineering President and CEO Park Ki-seok described the deal as the "first historic step" in Azerbaijan and vowed to gradually expand its operations in former Soviet republics, according to his comments posted on the Web site of Samsung Engineering.
In January, Samsung Engineering said it is targeting to receive 14.5 trillion won (US$13 billion) worth of orders in 2013, compared with 13.1 trillion won worth of orders in 2012.
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