Sunkyong enters Mexico

Sunkyong enters Mexico

SEOUL (UPI): South Korea's Sunkyong Engineering and Construction Ltd. has signed a US$24.6-million contract to build an oil refinery plant in Mexico, a spokesman said Friday.

State-run Pemex (Petroleos Mexicanos) plans to extract 80 tons of sulfur a day from crude oil, spokesman IHM Byung-soo said.

Construction is set to begin later this month in Salina Cruz in western Mexico. The plant is slated for completion in May 1998, Ihm said.

The deal marks the third deal between Sunkyong Engineering -- a division of South Korea's sixth largest conglomerate -- and Pemex, the spokesman said.