10 January 2012 03:21 [Source: ICIS news]
SINGAPORE (ICIS)--South Korean producer Samsung Total Petrochemicals said late on Monday that it will build a new aromatics complex and an ethylene vinyl acetate (EVA) plant at Daesan, with an investment commitment of won (W) 2,000bn ($1.7bn).
Construction of the No 2 aromatics plant, which will have an annual production capacity of about 1m tonnes of paraxylene (PX) and 420,000 tonnes of benzene, is expected to be completed by September 2014, the company said in a statement.
The new 240,000 tonne/year EVA plant, meanwhile, should be ready for operation by April 2014, it said.
PX is the raw material for polyester production, while benzene is used in petrochemical products such as styrene.
“With the completion of the No 2 aromatics plant and the planned upgrade of the existing PX capacity, the company’s total annual PX capacity will reach 1.76m tonnes by 2014,” Samsung Total said in the statement.
The company said it expects the expansion projects to boost its revenue to W12,000bn in 2015 from an estimated W7,000bn last year.
The completion of the new EVA plant will boost the company’s total EVA production capacity to 340,000 tonnes/year by 2014, according to a company official.
Samsung Total currently operates a 140,000 tonne/year EVA/low density polyethylene (PE) swing plant at the same site. This plant can produce up to 100,000 tonnes/year of EVA, the official said.
($1 = W1,158)
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