Samsung awarded US$1 bln order by S-Oil Corp for petrochem expansion

26-Aug-08

South Korea's third-largest refiner: S-Oil Corp has shortlisted Samsung Engineering to carry on petrochem expansion work at Onsan refinery. S- Oil has awarded an order worth US$1 billion to Samsung Engineering to expand its petrochemical plant in Onsan refinery, as part of a scaled-back expansion plan announced in November. The company had, in November, earmarked US$1.5 bln to build a petrochemicals complex and boost its refining capacity by 50,000 bpd. Samsung Engineering plans to complete the plant by January 2011 under the 1.16 trillion won (US$1.08 bln) deal. The aromatic unit will have production capacity of 280,000 tpa of benzene and 900,000 tpa of paraxylene, making S-Oil the largest PX supplier in Asia Pacific.