POSCO International to invest $862 mln in Indonesian palm oil business

oil refinery built as part of a joint venture between POSCO International and GS Caltex. The event was attended by POSCO International CEO Lee Kye-in, GS Caltex CEO Hur Sae-hong, and other key participants, highlighting the strategic importance of the project. According to POSCO International, acquiring an Indonesian plantation company allowed the group to secure stable access to raw materials and enhance the competitiveness of its palm oil business. The new refinery is expected to significantly increase production capacity and operational efficiency. GS Caltex will play a crucial role in supplying biofuel to the Korean market, using palm oil produced at the new facility. The partnership aims to meet the rising demand for low-carbon fuels and support Korea’s broader energy transition goals. With ...