Hyundai Chem JV Finalizes Construction Of Heavy-Feed PC Complex in S. Korea

:: 17 Oct  2022 ::

Seoul—Hyundai Chemical, a joint venture of Hyundai Oilbank and Lotte Chemical, has completed construction on a new heavy-feed petrochemical complex (HPC) at Hyundai Oilbank’s Daesan complex in South Korea, reported Yonhap News Agency citing South Korea’s industry ministry.

PCN earlier reported that the project would cost around $2.5-billion and include the production of 750,000 t/y of polyethylene and 400,000 t/y of propylene (PCN, 4 Feb 2019, p 4).  Operations had been expected to begin at the end of 2021.

According to the industry ministry, the new complex will have the capacity to produce 850,000 t/y of ethylene and 500,000 t/y of polypropylene.

“This HPC project has heightened the competitiveness of the domestic petrochemical industry,” said the report quoting Second Vice Industry Minister Park-Il Jun.

“The government will ease regulations to help companies better achieve goals through new projects and investment.”

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