APIC’12: JX Nippon Oil eyes mid-2014 start-up for PX joint venture

18 May 2012 03:26  [Source: ICIS news]

KUALA LUMPUR (ICIS)--Japan’s JX Nippon Oil & Energy is eyeing a mid-2014 start-up for its 1m tonne/year paraxylene (PX) project with a subsidiary of South Korea’s SK Innovation, a source from the Japanese aromatics major said on Friday.

A source from the subsidiary, SK Global Chemical (SKGC), told ICIS earlier that the companies are targeting a start-up for its 50:50 joint venture in the second quarter of 2012.

The project was announced in August 2011 and is expected to cost won (W) 1,000bn ($859m).

The company will be using the Honeywell UOP Parex process for the plant, with the feedstocks isomer-grade xylenes (IX), toluene and C9 aromatics to be equally supplied by SKGC and JX Nippon Oil.

Both companies will have equal PX offtake after commercial production starts.

When asked which region the company will be selling the PX to, an official from JX Nippon Oil said: “We will bring the PX to wherever the demand is.”

More than 12m tonnes of new downstream purified terepthalic acid (PTA) projects are expected to come on stream in China between the second half of 2012 and 2013, according to ICIS.

($1 = W1,164.29)

By: Bohan Loh
+65 6780 4359

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