Samsung Engineering secures $349 mn bio plant deal

South Korea's Samsung Engineering secured a deal for the Songdo Bio Raw Material Plant construction project from the global life sciences and laboratory equipment company Sartorius AG.

The company announced on Wednesday it received a letter of intent (LOI) for the "Sartorius Songdo Campus Project" contract worth 473.1 billion won ($348.6 million) from Sartorius Korea Operations LLC.

This plant is for the production of raw materials for biopharmaceuticals and related facilities to be constructed in the Incheon Free Economic Zone in Songdo. Once completed, it will produce disposable bags for biopharmaceutical products, membrane filters for pharmaceuticals, and cell culture media.

Samsung Engineering will handle procurement and construction work independently based on the previous design, with completion scheduled in 2027.

Samsung Engineering secured this project from the early concept design stage to participation in the actual construction, based on a "FEED (front-end engineering design) to EPC (engineering, procurement, and construction) strategy" that leverages its technological competitiveness.

With the latest contract, Samsung Engineering not only secures a new customer in the global bio-industry but also expands its business scope from biopharmaceutical plants to bio-material plants, anticipating additional projects and related contracts.

"With our abundant regional and product experience and distinctive technological capabilities, we will successfully execute the project and further enhance our position in the bio plant market," a company source said.

Write to Mi-Sun Kang at misunny@hankyung.com