15 May 2013 10:17 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Asia Acetyls Co (Asacco) has pushed back the targeted commissioning period for its new 300,000 tonne/year vinyl acetate monomer (VAM) plant in Ulsan to beyond 2015 from early 2014, on the back of weak exports markets, a company official said on Wednesday.
“The project has been delayed because of weak exports markets owing to slow downstream construction activities so it is difficult to forecast,” the official said, adding that the project is still in the study phase.
The plant was originally targeted for commissioning in early 2014.
“We cannot say when construction can begin and there is low probability that the plant can be commissioned in 2015,” he added.
Asacco currently operates a 210,000 tonne/year VAM plant at Ulsan.
VAM is an ingredient in architectural paints and coatings as well as adhesives.
Asacco is a joint venture between UK’s BP, US-based Dow Chemical and South Korea’s Samsung. Other major VAM producers in the Asian market include US-headquartered Celanese, Taiwan’s Dairen Chemical Corp (DCC), China’s Sinopec Sichuan Vinylon Works, Japan VAM & Poval and Showa Denko, and Saudi Arabia’s International Vinyl Acetate Co (IVC).
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