Korea National Oil Corp (KNOC) is seeking a refiner or a petrochemical maker willing to buy land to build a 5 trillion won (US$4.70 bln) refining or petrochemical plant, the state-run oil company has said in a public tender document, as reported by Reuters. KNOC will close a tender to sell 92 hectares (227 acres) of the necessary land for 519 billion Korean won at 4 p.m. KNOC has said that potential bidders must submit approvals from their boards of directors for a refinery or petrochemical plant investment plan as one of the qualifications for participating in the tender for the land.
South Korean refiner S-Oil Corp is likely to bid to acquire the land for a refinery or petrochemical plant it has been planning, said a KNOC source who declined to be identified as the matter is sensitive. South Korea media have also been reporting that S-Oil has been asking the government to help it get land for its project. S-Oil, with 669,000 bpd refining capacity, is looking to expand its paraxylene plant by buying the land from KNOC.
20-Feb-14 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}