SK Lubricants holds groundbreaking for Cartagena plant

SK Lubricants held a groundbreaking ceremony on November 28 in the Spanish city of Cartagena, to build a Group III base oil plant in partnership with the country’s leading energy company Repsol S.A.
Present at the ceremony were Repsol Group CEO Nemesio Fernandez Cuesta, SK Lubricants President Choi Gwan-ho, Murcia Regional President Ramon Luis Valcarcel and Korean Ambassador to Spain Oh Dae-sung.
The Cartagena plant has a capacity of producing 13,300 tons of base oils per day. Completion is slated by late 2014.
SK Lubricants will hold a 70% stake in the €250 million (US$325.8 million) project and Repsol the remaining 30%.