时间：2023-12-05 20:09:19 来源：网络整理 编辑：뉴스
South Korean oil refiner GS Caltex announced Thursday that it has secured a partnership with Posco I
South Korean oil refiner GS Caltex announced Thursday that it has secured a partnership with Posco International to expand their presence in the biofuel industry, accelerating efforts toward a green transformation.
The agreement was signed at the Posco Center in Gangnam, Seoul, Thursday, with top executives including GS Caltex CEO Hur Sae-hong and Posco International Vice Chairman and CEO Jeong Tak in attendance.
Through a joint venture, the two will build the new refinery facility in Kalimantan, Indonesia, with a combined investment of 260 billion won ($194 million). Starting with construction early next year, the facility is expected to operate in the second quarter of 2025.
The refinery is to boast annual production of 500,000 tons of palm oil as well as cooking oil, the company said.
They will also recover waste materials generated from the facility and later use them for biofuel production, allowing the company to build a whole value chain.
The new business enables the refiner to secure a stable supply chain, which are needed for the development of biofuel production technology.
Amid the global wave for renewable and green business, GS Caltex is leaning toward net zero carbon emissions by investing in biofuels, plastic recycling and hydrogen technology.
“The new partnership will allow us to secure competitiveness in the global bio market,” said Hur. “As GS Caltex has a soaring influence in the bio industry, we are expected to have a high synergy effect with Posco International.”
S. Korea set to open largest2023-12-05 20:04
USS Carl Vinson deploys for Indo2023-12-05 19:58
北, 러시아 외무장관 방북 발표…내달 18~19일 방문2023-12-05 19:43
Foreign workers' deaths get weak sanctions2023-12-05 19:18
Foreign workers' deaths get weak sanctions2023-12-05 18:57
[view] 민심 더 싸늘해지는데…감동 없는 김기현 2기2023-12-05 18:54
Yoon lauds rapid growth of Korean defense industry2023-12-05 18:37
[Today’s K2023-12-05 17:41
HiteJinro to produce soju in Vietnam2023-12-05 17:37
Reeling from election loss, ruling party picks new leader posts2023-12-05 19:44
S. Korea set to open largest2023-12-05 19:23
[view] 민심 더 싸늘해지는데…감동 없는 김기현 2기2023-12-05 19:13
'Apgujeong Box Girl' sparks online debate2023-12-05 19:11
Beef prices have soared 1002023-12-05 18:55
[Contribution] Why hope matters in climate crisis2023-12-05 17:54
[Today’s K2023-12-05 17:50
김성원 여의도연구원장 "공천장사 지라시, 허위사실 유포로 고소"2023-12-05 17:25