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The expansion doubled S-Oils annual petrochemical production capacity

May 31/2011

(Plastemart) -- S-Oil Corps expanded plant for paraxylene and benzene is now in full operation, at the No. 2 Aromatic Complex in Ulsan. The expansion has more than double S-Oils annual petrochemical production capacity to 1.6 mln tons of paraxylene and 300 KT of benzene. The two-year expansion project, completed in March, cost the refiner USD 1.2 bln).

The plant is our new growth engine and future driving force that will help us diversify our business areas and establish a solid presence in the areas, as per S-Oil chief executive Ahmed A. Subey. Well be able to gain a firm foothold in the petrochemical market as well as in the oil refining and lubricant oil markets where weve already secured global competitiveness.

Exporting around 60 percent of total output, S-Oil has been boosting its petrochemical business as a new revenue source over the last few years. S-Oil expects the new facilities to jack up exports by about USD 3.2 bln and sales by about 3.5 trillion won each year, respectively.

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