Samsung Total plans to expand

South Korea’s Samsung Total Petrochemicals Co. plans to expand its energy business by producing a range of oil products, including aircraft and marine fuel. Chief Exectuive Officer Yoo Suk-ryul said Samsung Total will increase the portion of its energy business to 30%, from the current 15%. Samsung Total, a joint venture between Samsung Group and France’s Total S.A., is spending 160 billion won (US$137.93 million) to build production facilities for these products which are expected to be completed by August. Beginning in June, the company will start refining half-finished products from its existing plants into gasoline for export only to countries like Japan and Australia. (January 29, 2010)