Philippine oil refiner Petron Corp. has awarded a contract to construct the storage and loading facilities for its $300 mln petrochemical project to Daelim Industrial Co. Ltd. of South Korea. Financial details of the contract with Daelim have not been revealed. Petron, a 50:50 JV between the Philippine government and Saudi Aramco, expects petrochemical production at its refinery in Bataan to start next year. The facilities will allow the safe storage and handling of high-value petrochemical products such as benzene and toluene.
