Showa Shell, Taiyo Oil, and GS Caltex to create world’s largest p-xylene plant |
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(refinerynews) -- A three-way agreement
was signed in Seoul for an expansion of para-xylene capacity at the Yeosu, Korea
refining complex of GS Caltex (Seoul). The agreement was signed by Showa Shell
Sekiyu (Tokyo), which operates Shell’s oil products business in Japan; Taiyo Oil
(Tokyo); and GS Caltex, a joint venture of GS Holdings (Seoul) and Chevron.
P-xylene capacity at the Yeosu site will be increased by 1 million
m.t./year through the cooperation of the three companies, to 2.35 million
m.t./year. Completion of the expansion is expected by the end of 2014, and it
will make the Yeosu facility the world’s largest p-xylene production plant at a
single site, the companies say.
P-xylene is a basic feedstock for
polyester, which is used to make fibers and polyethylene terephthalate bottles.
The cooperation among the three refiners is expected to enhance the
competitiveness of the p-xylene business, from feed sourcing and production to
marketing. Demand for p-xylene is forecast to rise further in Asia, especially
in China and India, the companies say. |
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mrcplast.com | |
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