SKSol builds new facility in Cartagena

Repsol, a Spanish oil and gas company, and SK Lubricants (SKL) the South Korean base oil producer, announced that the their joint venture, SKSol’s lubricant base oils plant in Cartagena, Spain, will create 80 direct jobs once it is fully operational. The two companies plan to invest €250 million (US$313 million) for the construction of the lube base oil plant. Jose Luque, the general director of the Repsol refinery in Cartagena, and Jose Sancho, the director of SKSol, said that SKSol will operate the plant which will produce third-generation lubricants. Construction of the plant is expected to be finished by 2014. SKL holds a 70% stake in SKSol, while Repsol owns the remaining 30%. (June 5, 2012)