S-Oil Corporation is conducting a feasibility study into building a mixed feed cracker with the size of 1,500KTA and olefin downstream facilities. This is part of its phase II investment project to expand its petrochemical business portfolio.
The company is expected to invest more than KRW 5 trillion ($4.46 billion) into the project until 2023.
The steam cracker will produce ethylene and other basic petrochemicals from naphtha and off-gas burned as fuel in the refinery, thus giving the company an added advantage over feedstock sourcing and cost competitiveness. Olefin downstream facilities will produce an increased volume of high-value petrochemical products including PE and PP.
The new facilities will be built on a 400,000? land S-OIL purchased from Hyundai Heavy Industries near its Onsan Refinery to possibly create a mega-scale single location plant and secure higher economics and operational efficiency if realized.
S-OIL said the project will significantly benefit the economy, too, as it will create 2.7 million man-days during construction, 400 regular jobs, reinvigorate the construction sector and increase exports.
S-Oil Corporation is conducting a feasibility study into building a mixed feed cracker with the size of 1,500KTA and olefin downstream facilities. This is part of its phase II investment project to expand its petrochemical business portfolio.
The company is expected to invest more than KRW 5 trillion ($4.46 billion) into the project until 2023.
The steam cracker will produce ethylene and other basic petrochemicals from naphtha and off-gas burned as fuel in the refinery, thus giving the company an added advantage over feedstock sourcing and cost competitiveness. Olefin downstream facilities will produce an increased volume of high-value petrochemical products including PE and PP.
The new facilities will be built on a 400,000? land S-OIL purchased from Hyundai Heavy Industries near its Onsan Refinery to possibly create a mega-scale single location plant and secure higher economics and operational efficiency if realized.
S-OIL said the project will significantly benefit the economy, too, as it will create 2.7 million man-days during construction, 400 regular jobs, reinvigorate the construction sector and increase exports.
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