GS Caltex to start new refinery in Sept

GS Caltex Corp., Korea’s second-largest oil refiner, said Tuesday it will begin mass production at its new refinery in September. 

The company held a ceremony to mark the completion of the 2.6 trillion won ($2.2 billion) plant that converts heavy oil into transportation fuels such as gasoline. 

The facility will be capable of processing 60,000 barrels of heavy oil per day, increasing GS Caltex’s daily capacity to 215,000 barrels from the current 155,000 barrels. 

GS Caltex is a 50-50 joint venture between GS Holdings Corp. and Chevron Corp., the second-largest U.S. oil company.

GS Caltex’s new plant in Yeosu, South Jeolla Province GS Caltex