Will business tycoons get to meet Aramco chair at S-Oil’s Ulsan plant?

All eyes are on whether the heads of major Korean conglomerates will be able to meet Aramco Chairman and Public Investment Fund (PIF) Governor Yasir Al-Rumayyan at Thursday’s groundbreaking ceremony for S-Oil’s 9 trillion won ($6.7 billion) “Shaheen” project in southern Korea. Shaheen, which means falcon in Arabic, involves the construction of Korea’s largest petrochemical plant in Ulsan by 2026. The Aramco-owned oil refiner said Tuesday that construction will start on March 9 after the project was approved by its board of directors last November, when Saudi Crown Prince Mohammed bin Salman Al Saud, one of the major shareholders of Aramco, visited Korea. The plant is Aramco’s largest investment in Korea.