GS Caltex to invest in desulfurization unit

South Korea’s GS Holdings Corp. said its energy unit GS Caltex plans to invest 335 billion won (US$359.34 million) in a diesel hydrodesulfurization project. It plans to build a 70,000-barrel per-day (bpd) diesel hydrodesulfurization (HDS) unit by 2009 at its Yeosu plant, lifting desulfurization capacity to 260,000 bpd. GS Caltex, South Korea’s No. 2 refiner, will build the facility by early 2009, its parent company GS said in a filing to the Korea Exchange. GS Caltex is a 50-50 joint venture between GS Holdings and U.S. oil major Chevron Corp. (April 13, 2007)