South Korea's GS Caltex invests new olefins plant in Yeosu

According to market sources, GS Caltex, a 50-50 joint venture of GS Holdings and Chevron is planning to invest around $1.8 billion for construction of a new olefins production plant in South Korea.

Based in Yeosu, South Korea, the project involves the company’s first mixed feed cracker, which will be able to produce of 700,000 tons/year of ethylene and 500,000 tons/year of PE. Construction is expected to begin this year and operations on 2022.