Business News of Thursday, 2 January 2003

Source: Korea Post

SKEC dedicates residue fluid catalytic cracking plant in Ghana

By dedicating a residue fluid catalytic cracking plant in Ghana, Korean company, SK Engineering & Construction Co., Ltd. has once again demonstrated its outstanding expertise in plant engineering and construction, especially in the gas, oil, chemical and petrochemical sectors.

Located in an oil refinery complex about 25 kilometers east of Accra, the capital city of the west African republic, the new plant is capable of processing 14,000 barrels of residue fluid a day for the production of gasoline, diesel and so on.

President John Agyekum Kufour and other dignitaries of Ghana were present at the dedication ceremony on Nov. 14, company officials said. On the Korean side, President Woo-haeng Moon of SKEC and President Woo-taik Chung of Samsung Corp. were on hand to celebrate the completion of the high value-added project requiring sophisticated oil cracking technology. SKEC and Samsung Corp. entered a turnkey contract with Tema Oil Refinery of Ghana at US$185 million in January 1999 to build the plant. SKEC was responsible for the whole process of construction work from design to procurement and commissioning while Samsung provided financing.

SKEC is an affiliate of the SK Group, a petrochemical giant in Korea, and has the experience of undertaking the engineering and construction of the whole production complex of SK Corp., which in fact is the largest oil refinery in Korea. Aside from this, the company is engaged in a broad range of other business, including IT, high-tech fibers, textiles, polyester film, magnetic tapes and discs.

Since 1962, SKEC has expanded its operation in all aspects of construction with various architectural and civil engineering projects undertaken at home and abroad, Its project resume include housing units, apartment buildings, hotels, sports and leisure facilities, commercial centers, schools, offices, etc. The company is also reputed for environmental and resources recycling plants, railways and subways, road and highways, port and harbours, bridges, gas and oil terminals.

On top of these, SKEC has been a well-known international contractor since 1979, carrying out a large variety of projects in the United States, Mexico, Brazil, Bolivia, Columbia, Thailand, Malaysia, Indonesia, China, Kuwait and Ghana. Among the major work done in these countries are Acid Gas Removal Plant for Kuwait National Petroleum Company, Cadereyta Refinery for Pemex in Mexico, and a residue fluid catalytic cracking plant for Petrobras in Brazil.