GS Caltex opens US$2.2 billion plant

GS Caltex, South Korea’s second-largest refinery, said it has completed a plant that converts heavy oil into transport fuels such as gasoline. The company said it has spent 2.6 trillion won (US$2.13 billion) since October 2008 to build the plant. The plant will now undergo a three-month test run before commercial operations begin in September. GS Caltex will start mass production at the plant with a daily heavy-oil processing capacity of 60,000 barrels from September, the company said. Overall completion of the plant will increase the daily heavy-oil processing capacity of GS Caltex to 215,000 barrels from the current 155,000 barrels. (June 22, 2010)