The $7 billion Shaheen petrochemical project's groundbreaking event in Ulsan, South Korea, was attended by South Korean President Yoon and Amin H. Nasser, President and CEO of Aramco.
Senior leaders and ministers from both nations were present for the historic occasion. The Shaheen project, which S-OIL, an affiliate of Aramco, is developing, was announced in November 2022 and is a crucial component of Aramco's regional crude-to-chemicals plan.
Amin H. Nasser, president and chief executive officer of Aramco, stated that it was a great honor to have His Excellency President Yoon present at this historic groundbreaking ceremony. Shaheen is one of Aramco's largest overseas downstream investments; it represents a huge and sizable advancement in our liquids-to-chemicals growth and yet another critical turning point in further solidifying our foothold in Korea.
Aramco's largest investment in Korea to date is Shaheen, which is anticipated to be among the biggest integrated steam crackers in the world. Aramco's thermal crude-to-chemicals technology, which was created in cooperation with Lummus Technology, is also being used extensively for the first time in a commercial setting.
