22 May 2013 09:44 [Source: ICIS news]
GUANGZHOU (ICIS)--South Korea’s Songwon plans to take a decision by the end of 2013 on its proposed antioxidant project in China, including the joint venture partner and the plant capacity, a senior company executive said on Wednesday.
The proposed new antioxidant project in China would take one and a half years to implement, hence it would be ready to start up in 2015, if all goes as planned, said Songwon’s executive vice president for corporate development, Philippe Schlaepfer.
Songwon was also looking at other investment options, including doubling its 25,000 tonne/year antioxidant plant in Maeam in South Korea, said Schlaepfer.
The producer was also exploring the opportunities to build antioxidant plants in other parts of the world, including the Middle East and the US, he said.
The availability of phenol and isobutylenes, the two main raw materials for antioxidants, is one of the key factors that will influence their expansion plans, he added.
Chinaplas, Asia’s largest plastics raw material and machinery exhibition, runs on 20-23 May.
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