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The Korea Herald
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THE INVESTOR
March 29, 2024

Industrials

S-Oil to invest W5tr in new petrochem project

  • PUBLISHED :August 22, 2018 - 15:33
  • UPDATED :August 22, 2018 - 15:33
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[THE INVESTOR] S-Oil said on Aug. 21 it plans to invest more than 5 trillion won (US$4.40 billion) by 2023 to build a mixed-feed cracker and olefin downstream facilities.

The company said it is conducting a feasibility study into the project to expand its petrochemical business portfolio.

The steam cracker will produce 1.5 million tons of ethylene per year from naphtha and off-gas burned as fuel in the refinery.


Olefin downstream facilities will produce high value petrochemical products.

The project will be undertaken in the southeastern industrial city of Ulsan and will serve as a new growth engine for the region.

Earlier this year, S-Oil reached mechanical completion of the construction of a residue upgrading complex and olefin downstream complex.

The project worth 4.8 trillion won is designed to convert low-value residue to high-value products: gasoline and olefine downstream product. It can also make propylene oxide, which is the basic raw material of polyurethane that goes in the interior material of automobiles, electronic products, and insulators.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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