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S-Oil to focus on RUC, ODC project

PUBLISHED : January 11, 2018 - 13:28

UPDATED : January 11, 2018 - 13:28

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[THE INVESTOR] S-Oil CEO Othman al-Ghamdi shared earlier this week that the company’s goal for this year is to make all out efforts to start operation of complexes under construction at its Onsan factory.
 
“Please continue to put in best efforts to successfully complete construction and begin operation of the project in the set timeline and budget,” al-Ghamdi said during a meeting to kick off the new year. 


S-Oil CEO Othman al-Ghamdi gives his New Year’s address earlier this week. S-Oil.



The oil refiner invested 4.8 trillion won ($4.4 billion) in the mega project to install the Residue Upgrading Complex and Olefin Downstream Complex at its factory in Onsan, Ulsan, South Gyeongsang Province, seeking to enhance competitiveness and secure a stable profit system.

Construction of the new complex is expected to be completed by April, he added.

Al-Ghamdi urged employees to pursue S-Oil’s four key tasks: fulfilling the company’s core values of excellence, passion, integrity, collaboration and sharing; the completion and operation of the Residue Upgrading Complex and Olefin Downstream Complex; bolstering competitiveness and safety by using IT technology; and striving to achieve its Vision 2025. 

By Kim Bo-gyung/The Korea Herald (lisakim425@heraldcorp.com)

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