抖阴短视频

SEOUL: Saudi Aramco plans a $7-billion investment at a South Korean affiliate鈥檚 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鈥檚 biggest investment in the Asian nation to develop one of the world鈥檚 largest refinery-integrated petrochemical steam crackers, Aramco said in a statement. 

Saudi Aramco owns more than 63 percent of South Korean refiner S-Oil Corp. 

Construction of the new plant will begin in 2023 and be completed by 2026. It will have a production capacity of up to 3.2 million tons a year, along with a facility to produce high-value polymers, Aramco said. 

The steam cracker is expected to process by-products from crude processing, including naphtha and off-gas, to make ethylene, and is also expected to produce propylene, butadiene and other basic chemicals. 

On completion of the project, S-Oil鈥檚 chemical yield, by volume, could almost double to 25 percent, Aramco said. 

Global petrochemical demand growth is 鈥渁nticipated to accelerate, driven in part by rising consumption from Asia鈥檚 emerging economies,鈥� President and CEO Amin Nasser said in the statement. 

The project is well positioned to meet rising demand from Asia鈥檚 industries, he added. 

The news came in conjunction with 抖阴短视频n Crown Prince Mohammed bin Salman鈥檚 visit to South Korea on Thursday.