Saudi Aramco to pump $7 billion into biggest petchem investment in South Korea
SEOUL: Saudi Aramco plans a $7-billion investment at a South Korean affiliate’s factory in the port city of Ulsan to turn out more high-value petrochemical products, the company said on Thursday.
The project, named Shaheen, is the Saudi firm’s biggest investment in the Asian nation to develop one of the world’s largest refinery-integrated petrochemical steam crackers, Aramco said in a statement.
Saudi Aramco owns more than 63% of South Korean refiner S-Oil Corp.
