South Korean refiner SK Inchon Oil Ltd was considering the investment of 1.97 trillion won ($2.1 billion) in new facilities to produce 55,000 barrel-per-day (bpd) of light fuels, a South Korean newspaper reported on Saturday.
The project by SK Inchon Oil, taken over by industry leader Sk Corp this year, was the latest in a range of projects that would add 390,000 bpd to refining capacity in the country by 2010, the Korea Economic Daily reported a commerce ministry official as writing in an industry journal.
The paper did not detail SK Inchon Oil's plans and the firm was not immediately available for comment on the reported expansion, which comes as refiners race to expand to capitalise on robust refining margins amid growing demand for fuel.