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17 July 2019 The on-line newspaper devoted to the world of transports 20:39 GMT+2



April 15, 2019

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Saudi Aramco buys from Hyundai Heavy Industries 17% of Hyundai Oilbank

The investment will pile to about 1,25 billion dollars

The Saudi oil company Saudi Aramco has tightened an agreement with the South Korean navalmeccanico group Hyundai Heavy Industries (HHI) in order to acquire for about 1,25 billion dollars 17% of Hyundai Oilbank, society that work in the field of the refining of the oil whose 91.1% of the share capital currently are of property of the HHI. Saudi Armaco will acquire the quota through the branch Aramco Overseas Company (AOC).

The main systems of refining of Hyundai Oilbank, that they have an ability to 650 thousand barrels to the day, are situated on the whole petrochemical Daesan near Seosan, in the South Korean province of the Southern Chungcheong.



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