17 July 2013 10:42 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Lotte Chemical Corp and Hyundai Oilbank on Wednesday agreed to jointly build a won (W) 1,000bn ($896m) condensate splitter and reformer in Daesan, a company source said on Wednesday.
The new facility, expected to produce 1m tonnes/year of mixed xylenes (MX) , is slated to begin commercial operations by the second-half of 2016, the source said.
“All output would be split equally between Hyundai Cosmo and Lotte Chemical’s paraxylene (PX) units,” the source added.
Light naphtha output from the new unit, which will process about 110,000 bbl/day of condensate, will be transported to the Lotte Daesan NCC complex and used as feedstock for producing petrochemicals, according to the source.
($1 = W1,116)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections