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South Korean petrochemical makers to invest USD 6.7 bln

February 01/2012

(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.

South Korean petrochemical makers to invest USD 6.7 bln

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.

Author:Anna Larionova
Tags:PP, PS, oil.
Category:General News
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