South Korea's S-Oil considering up to $6 billion petchem investment -newspaper

SEOUL : South Korea's S-Oil Corp is considering an investment of up to 8 trillion won ($6.04 billion) in new petrochemical production in the country, a newspaper reported on Tuesday.

The refiner, whose largest shareholder is Saudi Aramco, is considering building facilities in Ulsan, South Korea, to produce 1.8 million tonnes of petrochemical products annually, including ethylene, to be completed in 2026, the Korea Economic Daily reported, citing an unnamed petrochemical industry source.

S-Oil said nothing had been decided.

Saudi Arabian Crown Prince Mohammed bin Salman is expected to visit South Korea later this week, South Korean officials said.

($1 = 1,324.0000 won)