South Korean petrochemical makers to invest USD 6.7 bln

(chemnet) -- South Korea"s petrochemical makers plan to invest Won 7.5 trillion (USD6.7 billion) this year on the upgrading and expansion of their production facilities, up 2.7% from estimated investments of Won 7.3 trillion last year, the Korea Petrochemical Industry Association said Thursday.

The expected 2012 investment figure will be a record high, said KPIA, but it noted that the growth in investment will be slower this year compared with an estimated 28.1% rise in spending last year.

The industry group also said South Korean petrochemical companies are planning to export USD47.5 billion worth of product in 2012, up 4.4% from estimated exports of USD45.5 billion last year.

Meanwhile, South Korea is expected to import USD18.5 billion worth of petrochemical products this year, up 8.8% from an estimated USD17 billion in 2011, it added. 

mrcplast.com