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. Last Updated: 07/27/2016

Samsung Wins Deal

SEOUL, South Korea -- South Korea's Samsung Corp. said Friday it had won a $4.4 billion deal from the Angolan state oil company Sonangol to build a refinery and offshore production and storage facilities.

The agreement came after Samsung Corp. Vice chairman Hyun Myung-kwan met Angolan President Jose Eduardo dos Santos on Thursday, Samsung said in a statement

Samsung will join forces with S.K. Group unit S.K. Construction to build a 200,000 barrel per day oil refinery valued at $2.7 billion, the statement said.