Business Services Industry
SOUTH KOREA: Construction plans for proposed $3,740,000,000 refinery expansion project, S-OIL CORP. [South Korea] Order #: 127206.
WWP-Business Opportunities in Asia & the Pacific, December, 2006
PROJECT OVERVIEW:
South Korea's third-largest refiner, S-OIL CORP., s now planning to expand its production capacity to 1 million barrels per day (b/d) by 2010. According to Dr. Samir A. Tubayyeb, S-OIL Vice-Chairman & CEO his company is aiming to raise its sales by two-thirds to $21,260,000,000 by 2010 by boosting refining capacity by 70%.
In April 2006, for that matter the company's Board of Directors approved a $3,740,000,000 project to build a 480,000 barrel per day (b/d) refinery, on top of the existing 580,000 b/d plant. The second facility would thus make S-OIL the country's number-2 refiner.
S-OIL, in which SAUDI ARAMCO of Saudi Arabia has a 35% interest, employs a total staff of about 2,300. The company is engaged in oil refining...
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