GS Caltex will spend 2.6 trillion won to build new plantGS Caltex, the second-largest oil refiner in Korea, said Thursday that it will invest 2.6 trillion won ($2.3 billion) to build an olefins plant in the southern part of the country.
The mixed feed cracker in Yeosu, South Jeolla, will have an annual production capacity of 700,000 tons of ethylene and 500,000 tons of polyethylene. Yeosu is a key industrial city located about 455 kilometers south of Seoul. GS Caltex plans to begin commercial operation of the plant in 2022.
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