Posco International's headquarters in Songdo, Incheon (Posco International)
Posco International's headquarters in Songdo, Incheon (Posco International)

Posco International, the trading and energy arm of Posco Group, said Monday it aims to post 1 trillion won ($722 million) in operating profit this year through the launch of large-scale projects in the second half.

The company reported consolidated revenue of 8.14 trillion won and operating profit of 313.7 billion won in the second quarter, up 16 percent from the previous quarter. Its operating profit in the first half reached 583.9 billion won.

Posco International will kick off three large-scale projects in the second half of this year.

Senex Energy, an Australian gas production unit acquired by Posco International, plans to triple its annual gas production capacity from 20 petajoules to 60 petajoules by the end of the year, equivalent to approximately 1.2 million tons of liquefied natural gas.

Posco International's drive motor core plant in Poland will begin operations, targeting an annual production of 1.2 million units by 2030. The company plans to produce 7 million units annually at four production bases in Korea, Mexico, India, and Poland.

In Indonesia, the company's palm oil refinery is scheduled for completion. It will produce high-value-added products such as biofuel, edible oil and oleochemicals, with an annual production capacity of 500,000 tons.

"We will solidify our position as a global integrated business company as we target 1 trillion won in operating profit for the third year in a row," said a Posco International official.


andreahaneu@heraldcorp.com