SK Group to negotiate building of ethylene plant with Peruvian government

The SK Group plans to build a massive petrochemical factory in Peru, a country with abundant natural resources in Latin America. The companys' chairman accompanying President Lee Myung-bak on his state visit to Latin America, will negotiate building the petrochemical plant with the Peruvian government. The SK Group decided to build an ethylene production plant near the Camisia mine in the heart of Peru, and decided to bid to the Peruvian government in the first half of next year. SK Group currently helps produce crude oil and natural gas in 3 mines in Peru, including Camisia, and is exploring one additional mine. The company holds a 20% share in a LNG plant project, set to be complete by 2010. The group is confident about winning the bid as it has invested over US$1 billion in Peru over the last decade. Additionally, it is experienced with the Camisia mine, which produces more than 80% of the country's total gas supply.
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