S Korea’s HC Petrochem to build PX unit by end-year

18 July 2012 09:08  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s HC Petrochem is expected to complete the construction of a new 800,000 tonne/year paraxylene (PX) unit at Daesan in South Korea by the end of this year, a source from Cosmo Oil said on Wednesday.

HC Petrochem is a 50:50 joint venture between Japanese refiner Cosmo Oil and South Korea’s Hyundai Oilbank and was formed at the beginning of 2010.

“If [the] construction [goes] smoothly, it will be able to complete in 2012…but we can’t tell you the accurate schedule now,” the source said.

The PX unit is part of HC Petrochem’s new Daesan aromatics project. It will also be able to produce about 120,000 tonnes of benzene per year.

The volume of PX produced and sold annually by HC Petrochem will be boosted to 1.18m tonnes once the new unit is operational, according to Cosmo Oil on its website. This figure includes the 380,000 tonnes/year capacity of Hyundai Oilbank’s existing PX facilities, which have been transferred to the joint venture.

By: Nurluqman Suratman

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