Saudi EPC Report: 수주 기회와 리스크 관리 — 2026-06-14

1. Project Bidding Trends

Samsung E&A's Global EPC Expansion Samsung E&A is poised for significant growth from 2027 onward, fueled by expanded order opportunities amid the global energy market shift. Shinhan Securities is keeping a close watch as the group increases its capital expenditures.

International Large-Scale EPC Project Trends

• Cheniere Energy Partners (CQP): Awarded a $4.69 billion EPC contract to Bechtel in late May 2026 for the Sabine Pass LNG Train 7 and related infrastructure in Louisiana.

• EPIL (Engineering Projects India Limited): Issued an EOI (Expression of Interest) for a 250MW solar EPC project in Rajasthan, covering land, EPC construction, transmission, and O&M.

• NTPC REL: Currently holding an EPC tender for a 240MW solar PV project near Devikot, Rajasthan.

1 sources

alphabiz.co.kr

삼성E&A, 글로벌 EPC사 핵심 수행 파트너사로 부상

2. Domestic Participation & Financial Support

KOTRA Strategy for Saudi Expansion

• The Saudi government’s 2025 budget plans for $316.2 billion in revenue and $343.2 billion in spending.
• Large-scale projects are being executed in phases to ensure fiscal efficiency.

Saudi Infrastructure Cooperation Center Project Info The Korean government is operating a reporting and support system for corporate entry into Saudi infrastructure projects.

Project Information Bank (KOPIA)

• Provides Middle East/Asia plant information services through the International Contractors Association of Korea.
• Operates a database for plant project orders in Saudi Arabia.

3. Early Risk Detection (Contract/Financial/Political)

Deepening Saudi Payment Risks Payments to global consulting firms and law firms in Saudi Arabia have been frozen. While some firms continue working despite the uncertainty, others have been instructed to finish short-term tasks before halting new project work.

NEOM Project Cost Surge and Delays

• NEOM construction is facing massive cost increases and project delays.
• Financing issues have worsened following the cancellation of a 2.5 trillion KRW high-speed rail project.
• Due to the war, it is difficult to predict when projects will resume; concerns over rising construction costs and PF maturity pressure are growing.

Structural Risks in the Middle East Construction Market The fallout from the war in the Middle East makes it difficult to predict when projects will resume, and assigning liability for delays remains a significant challenge.

4. Competitor Trends & Strategies

Samsung E&A's Strengthened Global Competitiveness Samsung E&A is emerging as a core execution partner for global EPC firms due to its ability to capture opportunities in the shifting energy market, with substantial growth expected from 2027.

Strengths of Korean Firms

• Strengthened cooperation via the Korea Electric Power Corporation (KEPCO) and Saudi Aramco consortium.
• Accumulated experience in large energy infrastructure projects, such as combined cycle power plants.

Weaknesses & Cautions

• Increased uncertainty in capital recovery due to worsening Saudi payment risks.
• Potential decline in profitability due to rising costs for large-scale projects.
• Persistent risks of project delays due to political and military instability in the Middle East.

Risk Alert for Today: The freeze on payments to global consultants and law firms in Saudi Arabia continues, and the cost surges and delays at the NEOM project could lead to a decline in local credit ratings. Be sure to verify payment terms when participating in any new tenders.