Top Domestic Construction Companies Join Forces for Groundbreaking of 'Shahin Project' (Comprehensive)

Weekly Company Hyundai Construction, Hyundai ENG, DL, and Lotte Consortium
Undertakes Largest-Ever Petrochemical Facility Construction

The nation's top construction companies have formed a one-team consortium to break ground on the largest-ever (domestic standard) petrochemical facility construction project, the 'Shaheen Project.'

The consortium, led by Hyundai Engineering & Construction, Hyundai Engineering, DL E&C, and Lotte Construction, held a groundbreaking ceremony on the 9th and officially commenced construction, the companies announced on the 10th. The project is scheduled for completion in 2026.

The nation's top construction companies have formed a one team to break ground on the largest petrochemical facility ever built in the "Shahin Project." The photo shows Hyundai Construction (CEO Yoon Young-jun, third from the left) and other event participants attending the Shahin Project groundbreaking ceremony on the 9th, posing for a commemorative photo.
[Photo by Hyundai Construction]

The Shaheen Project embodies S-Oil's ambition to become an eco-friendly energy chemical company with a goal of carbon neutrality. S-Oil's investment alone amounts to 9.258 trillion KRW, with the construction cost totaling 7.423 trillion KRW. Hyundai Engineering & Construction and Hyundai Engineering are each participating with 2.389 trillion KRW (32.2% each), DL E&C with 1.412 trillion KRW (19.0%), and Lotte with 1.233 trillion KRW (16.6%).

The construction is divided into three packages. Hyundai Engineering & Construction, Hyundai Engineering, and DL E&C will execute Package 1, which involves building the steam cracker and TC2C facilities. TC2C is a technology that converts low-value crude oil within the refinery into steam cracker feedstock.

Package 2, which includes the installation of HDPE (high-density polyethylene), LLDPE (linear low-density polyethylene) production facilities, and automated warehouses, will be handled by Hyundai Engineering and Lotte Construction, while Package 3, involving tank construction, will be managed by Lotte Construction.

Upon completion of the Shaheen Project, S-Oil will be able to produce 1.8 million tons of ethylene and 750,000 tons of propylene annually, enabling the production of 1.2 million tons of HDPE and LLDPE petrochemical products each year.

A Hyundai Engineering & Construction official stated, "The Shaheen Project, the largest in the domestic petrochemical industry, is a result of recognition for our world-class technology in petrochemical and gas plant sectors and our excellent capabilities in engineering, procurement, and construction (EPC). By successfully executing the Shaheen Project, we will establish a stronger foothold in future large-scale petrochemical plant projects expected to be ordered."

A DL E&C representative said, "We will once again demonstrate our accumulated technology and business capabilities worldwide through the largest petrochemical project in Korea. We will focus our EPC execution capabilities to make every effort to commercialize the TC2C technology for the first time in the world."

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