POSCO E&C wins 220 bln-won petrochemical plant order in Philippines

POSCO E&C wins 220 bln-won petrochemical plant order in Philippines

2017/11/05

Contract signing ceremeny source KyeongHyang daily

edited by kcontents

SEOUL, Nov. 5 (Yonhap) -- South Korea‘s POSCO Engineering & Construction Co. (POSCO E&C) said Sunday that it has won a 220 billion-won (US$197 million) petrochemical plant order in the Philippines.

The deal with JG Summit Olefins Corp. calls for the expansion of a naphtha cracking facility and building of a new hydrogen process plant for pyrolysis gasoline. POSCO E&C said the engineering, procurement and construction contract will increase naphtha cracking capacity from an annual 320,000 tons at present to 474,000 tons, with the pyrolysis gasoline process being added to the petrochemical plant in the Simlong region, some 120 kilometers south of Manila.

Construction of the new facilities are expected to be completed by 2020, the builder said, adding once the plant starts production it will have the single largest naphtha cracking facility on the island nation.

yonngong@yna.co.kr

http://english.yonhapnews.co.kr/news/2017/11/05/0200000000AEN20171105002500320.html

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