Aramco subsidiary, S-Oil, to found a petrochemical plant South ‎Korea

Saudi Aramco’s subsidiary, S-Oil, is holding a ceremony on March 6 to lay the foundation stone for a giant petrochemical plant in Ulsan, to celebrate the start of the $7 billion Shaheen project late last year, when he visited Crown Prince Mohammed bin Salman of South Korea. The project is expected to be completed by 2026

According to the Korean “Yonhap” agency, Saudi Aramco Oil, one of the largest crude oil exporting companies in the world, decided to hold its board of directors meeting in Seoul next month. It is likely that the meeting will also be attended by the head of the company

This is the third time that the giant Saudi oil company has held its annual board of directors meeting in South Korea, which is the fifth largest importer of crude oil in the world. The meeting was held in Seoul in 2011 and 2015

It is expected that the Chairman of the Board of Directors, Yasser Othman Al-Rumayyan, will come with the members of the Board of Directors to South Korea to attend the event scheduled to be held early next month, according to the sources.

It is also worth noting that Aramco is the largest shareholder in S-Oil, the third oil refining company in South Korea, with a stake of 63.4%.