SK E&C signed a contract worth US$100 million (about 107 billion won) for plant construction in Thailand.
On October 14, SK E&C announced it signed a contract to build a PTTGC aromatic plant in the Map Ta Phut oil refinery in Thailand. This project, ordered by PTTGC, the largest energy company in Thailand, is for increasing the annual production of Para-Xylene and Benzene to 120K and 50K tons each.
SK E&C formed a consortium with a PTTGC affiliate, PTTME, to participate in this project. SK’s share is 45%. It will be in charge of engineering and procurement, while PTTME will be in charge of construction. The construction begins within this month for completion in September 2015.
The company puts a lot of meaning on this project, since it is the first contract signed by the Global Plant Service (GPS) department established for developing new growth power. SK E&C founded the GPS department earlier this year to provide plant maintenance, technology consulting, modernization, and other customized services based on the technology of its oil refining and petrochemical affiliates and plant management experience.