Lotte Construction Participates in Korea's Largest Petrochemical Project, the Shahin Project

Lotte Construction CEO Ha Seok-ju, S-Oil CEO Mr. Hussain Al-Qahtan, Hyundai Construction CEO Yoon Young-jun, and Hyundai Engineering CEO Hong Hyun-sung are attending the S-Oil Shahin Project contract ceremony and posing for a commemorative photo.

On the 17th, Lotte Construction announced that it signed a contract to be selected as the EPC (Engineering, Procurement, and Construction) contractor for the 'Shahin Project,' the largest petrochemical project in Korea, commissioned by S-Oil, at the Korea Chamber of Commerce and Industry.

The contract signing ceremony for the S-Oil Shahin Project was held with the attendance of Lotte Construction CEO Ha Seok-ju, S-Oil CEO Mr. Hussain Al-Qahtan, Hyundai Construction CEO Yoon Young-jun, and Hyundai Engineering CEO Hong Hyun-sung, where the client and consortium participating companies signed the agreement.

This project will be carried out by a consortium led by Hyundai Construction as the main contractor, with Lotte Construction and Hyundai Engineering participating. Construction is scheduled to begin early next year and be completed by 2026.

S-Oil's Shahin Project is the largest scale in the history of the domestic petrochemical industry, aiming to establish petrochemical product production facilities including ethylene and polyethylene (PE) in the Ulsan area.

Lotte Construction will participate in Package 2 and Package 3 of this project. Package 2 involves constructing the core facility 'Steam Cracker' that produces ethylene, the raw material for petrochemical products, and the 'Olefin Downstream' facility that produces high value-added petrochemical products such as polyethylene (PE) using ethylene.

Additionally, Package 3 will involve constructing 21 tank facilities for storing ethylene and propylene.

A Lotte Construction official stated, "Lotte Construction was able to secure the Shahin Project, the largest scale in the domestic petrochemical industry, leveraging the overseas large-scale Indonesia LINE Project as a foothold," adding, "We will continue to expand our overseas business."

Meanwhile, in January, Lotte Construction won the Indonesia LINE Project worth a total project cost of 1.631 billion USD. This project involves creating a mega petrochemical complex on approximately 990,000 square meters of land in the Cilegon area, about 90 km northwest of Jakarta, the capital of Indonesia. The project aims for completion in 2025. Once completed, it will produce 1 million tons of ethylene, 520,000 tons of propylene (PL), 250,000 tons of polypropylene (PP), and 140,000 tons of butadiene (BD) annually.

This content was produced with the assistance of AI translation services.