05 October 2012 12:02 [Source: ICIS news]
LONDON (ICIS)--Italy’s Versalis, the chemicals division of energy firm Eni, on Friday announced it has signed an agreement with Honam Petrochemical Corporation, to build an elastomers production plant at the South Korea-based producer’s facilities in Yeosu.
The elastomers plant will have a production capacity of about 200,000 tonnes/year, with start-up planned by the end of 2015. Product will be delivered primarily in the Asian markets.
Financial details of the project were not disclosed.
Versalis will provide its engineering services, commercial development skills and technical assistance while Honam will provide the primary raw materials, operative sites and existing structures, the company said.
Versalis added that the agreement sets the basis for the creation of a joint venture with Honam, which will strengthen its position on the global market, particularly in the Asia-Pacific region.
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