Business Services Industry
SOUTH KOREA: Construction plans for proposed $3,740,000,000 oil refinery move ahead, S-OIL CORP. [South Korea] Order #: 059606.
WWP-Business Opportunities in Asia & the Pacific, May, 2006
PROJECT OVERVIEW
The Board of Directors of the local S-OIL CORP. recently approved the company plans to build a new refinery in the country. Construction plans under consideration call for building a plant with an installed production capacity of 480,000 barrels per day (b/d). The development also includes building 2 secondary units consisting of a: - 75,000 b/d residue fluid catalytic cracker to enable processing fuel oil into gasoline; - 75,000 b/d hydrocracker to process fuel oil into diesel and kerosene.
The cost to complete the main crude distillate unit and 2 secondary units, by 2010, has been estimated at $3,740,000,000.
As things currently stand, the project is still subject to the Daesan municipal government's approval.
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