Samsung Heavy set to bag $1.5b deal

By a2016032

Published : June 7, 2017 - 17:18

Samsung Heavy Industries Co., a major shipyard here, is likely to win a $1.5 billion deal to build a total of 12 articulated tug barges, industry sources said Wednesday.

According to the sources, Samsung Heavy has signed a letter of intent with SeaOne for the deal which calls for the construction of the barges that will carry compressed gas.

(Yonhap)

Negotiations are still underway to finalize the deal, the observer said. Details of the potential deal have not been disclosed.

If the deal goes smoothly, orders secured by Samsung Heavy will hit $6.2 billion this year. The shipyard set its annual order target at $6.5 billion.

Last week, the shipyard clinched a $2.5 billion deal to build an offshore facility. (Yonhap)