Daelim Signs Agreement to Build Malaysian Oil Refinery
Both companies’ employees including Daelim Division Director Yu Jae-ho (fourth from left) and Malaysian PETRON CEO Lubin Nepomuceno (fifth from left) posing for a group photo
Daelim signed on Feb. 22 a USD 132 million (KRW 146 billion) contract to build the ULSADO Oil Refinery ordered by PETRON Malaysia, a local subsidiary of PETRON as the Philippines’ largest oil refining company. The contract signing ceremony was held at Port Dickson Oil Refinery operated by the client. Daelim Plant Division Director Yu Jae-ho and PETRON Malaysia CEO Lubin Nepomuceno and other employees from both companies attended the ceremony.
ULSADO Oil Refinery’s Port Dickson local area map
This project involves building a new diesel treatment facility in the existing oil refinery in the Port Dickson area 60km southeast of Malaysia’s capital Kuala Lumpur. The facility will produce 35,000 barrels of eco-friendly diesel fuel a day. Plant construction kicked off in August last year, and it is slated to be completed in the second half of 2020. Daelim will carry out the project using a turnkey basis system, taking charge from design to equipment procurement and construction.
Workers of PETRON Malaysia’s ULSADO site
In 2015, Daelim successfully completed the Philippines’ KRW 2 trillion RMP-2 Oil Refinery, the largest plant project in Southeast Asia ordered by PETRON. Having completed 10 oil refinery and petrochemical plant projects ordered by PETRON including this project, Daelim has had its technological capabilities and business competence acknowledged.
