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Hyundai Oilbank unit to spend 2.7 tln won on chemical plant in S. Korea

Industry 16:40 June 22, 2020

SEOUL, June 22 (Yonhap) -- Hyundai Chemical Co. said Monday it will invest 2.7 trillion won (US$2.2 billion) in building a petrochemical plant in the country's southwest.

Hyundai Chemical will complete the construction of the plant in Daesan petrochemical complex in Seosan, some 120 kilometers southwest of Seoul, by 2021.

The plant will have an annual production capacity of 750,000 tons of polyethylene and 400,000 tons of polypropylene.

Hyundai Chemical -- a 60:40 joint venture between Hyundai Oilbank and Lotte Chemical -- produces petroleum products, such as liquefied petroleum gas, naphtha, kerosene and diesel, as well as petrochemical products, including benzene.

The logo of Hyundai Oilbank (Yonhap)

entropy@yna.co.kr
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