Saudi Petrochemical & Plant EPC Insights — 2026-07-12 리포트
Saudi Arabia saw a record-breaking SAR 29 billion (approx. USD 7.9 billion) in project orders for June 2026, with 27 companies pre-qualified for BESS tenders. Meanwhile, Korean builders remain cautious due to past tax disputes and concerns over potential NEOM project cancellations.
Saudi Petrochemical & Plant EPC Insights — 2026-07-12
1. Project Trends and Updates
Record-breaking SAR 29 Billion in June orders According to the "Contracting Sector Outlook – June 2026" report by the Saudi Contractors Authority (SCA), 25 projects were awarded in June, totaling SAR 29 billion (approx. USD 7.9 billion), the highest monthly volume this year.
BESS Project Pre-qualification complete The Saudi Power Procurement Company has shortlisted 27 companies for the second round of bidding for a 12,000MWh Battery Energy Storage System (BESS) project. Qualified firms include Masdar, ACWA Power, and EDF.
Status check: No specific updates regarding new orders, EOIs, PQs, RFPs, or preferred bidder selections within the last 24 hours.
2. Korean Participation and Financial Support
Support for Desalination via Policy Finance The Export-Import Bank of Korea (KEXIM) is providing Project Financing (PF) to help Korean firms secure desalination projects in Saudi Arabia and Oman, sectors seeing growing demand in water-scarce regions.
New Strategic Fund for Middle East Infrastructure The government is pushing for comprehensive support, including a new strategic fund, to help local firms enter the Middle East infrastructure market.
Strengthening Korea-Saudi Cooperation The government is working with Saudi authorities to ensure the timely completion of major projects, such as the Hyundai Motor-PIF joint vehicle plant (capacity: 50,000 units/year) and the HD Hyundai-Aramco joint shipyard (capacity: 40 vessels/year), while expanding cooperation into minerals and high-tech industries.
3. Risk Monitoring (Contract/Finance/Politics)
Hanwha Qcells Demonstrates EPC Strength Hanwha Qcells is currently building "Atlas Energy Park" in Arizona, the largest energy complex in the U.S., successfully showcasing its design and procurement capabilities.
Aramco-related risks: No urgent risk notices regarding new petrochemical or plant EPC projects have been issued in the latest official releases from the Aramco newsroom.
Risk updates: While there have been historical concerns (2023–2025) regarding NEOM project scale-backs, tax issues involving DL E&C, and payment freezes for consultants, no new risk signals have been identified as of July 11, 2026.
4. Competitor Trends and Strategy
Intensifying Competition in Middle East EPC The UAE’s Upper Zakum offshore field expansion has entered the EPC phase, with NMDC Energy (UAE), McDermott International (USA), and Saipem (Italy) vying for the contract.
Strengths of Korean EPC firms:
- Increased policy finance support for renewable energy (BESS) and water infrastructure.
- High trust from the Saudi government due to ongoing major projects with Hyundai Motor and HD Hyundai.
- Proven international EPC competence via large-scale U.S. energy projects like Hanwha Qcells.
Weaknesses of Korean EPC firms:
- History of tax disputes in the region (e.g., DL E&C).
- Uncertain payment collection due to risks of project cancellation or scaling.
- Exposure to long-term financial and political risks.
Report Date: 2026-07-12
Collection Period: Since 2026-07-10
Note: This report is based on public information and excludes private bids/negotiations. Please verify the latest updates directly through official Saudi platforms (SCAVO, aramco.com, etc.).
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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