Philippines largest oil refiner in asset terms, Petron Corp. has awarded a US$178.4 million project contract to South Korea's Daelim Industrial Ltd. for the construction of Petron's PetroFCC project based at its Bataan refinery, expected to commence in early 2008.
The project involves the upgrade of Petron's existing cracking unit to a fluidized catalytic cracker, to increase overall operating efficiencies at its Bataan refinery. This will enable Petron to produce more white products and propylene, which it can export to regional markets.
The PetroFCC project forms part of Petron's US$300 million refinery master plan for the next three years that will allow it to extract petrochemicals to serve the domestic and regional markets. The plan also includes additional refinery units for the extraction of the petrochemicals benzene and toluene and the expansion of its existing mixed xylene production capacity.
12-Jan-06 
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