Arab Today, arab today park celebrates groundbreaking for oil hub project at ulsan port
Last Updated : GMT 17:39:50
Arab Today, arab today
Arab Today, arab today

Park celebrates groundbreaking for oil hub project at Ulsan port

Arab Today, arab today

Arab Today, arab today Park celebrates groundbreaking for oil hub project at Ulsan port

Seoul - Arab Today

President Park Geun-hye celebrated the groundbreaking Wednesday for a project to build a massive oil tank terminal at the southeastern port of Ulsan as part of efforts to realize an ambitious goal to turn the port into an oil trading hub in Northeast Asia. The 1.64 trillion won (US$1.55 billion) project calls for building 68 tanks capable of storing a combined 28.4 million tons of crude and other forms of oil and nine berths for oil tankers between 10,000 tons and 300,000 tons in size at the port by 2020.

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