MOSCOW (MRC) -- BASF, SK Chemicals (Seoul) and Solvay are in discussions, which may lead to the construciton of a hydrogen peroxide-to-propylene oxide (HPPO) project at Ulsan, according to Investkorea.
SKC, a chemical unit under SK Group, has sought to use BASF's production license to build a propylene oxide facility with a 400,000-ton capacity in Ulsan, 414 kilometers southeast of Seoul.
If an agreement is reached by year-end, the two firms will start investing in the project early next year to complete it by 2018, SKC said.
Propylene oxide is a key raw material used for a wide range of industrial and commercial products.
BASF also has been negotiating with Belgium's Solvay to build a hydrogen peroxide plant with a 280,000-ton capacity in the city, a major hub for the nation's chemical and heavy manufacturing industry, the provincial government said.
Senior officials of the three companies met with Ulsan city officials to discuss ways to launch the project, the provincial government said, noting that the deal is estimated at 1 trillion won (USD833.8 million).
SKC has been stepping up cooperation with global players to expand its business, forming a joint venture with Japan's Mitsui Chemicals last month for collaboration in R&D and overseas marketing.
As MRC informed earlier, SIBUR, Russian integrated gas processing and petrochemical company, and BASF, German chemical company, have extended their long-term agreement on supply of additives used for polymer manufacturing at SIBUR production facilities.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF had sales of over EUR74 billion in 2014 and over 113,000 employees as of the end of the year.
SK Global Chemical Co., Ltd. develops, produces, and supplies olefins, such as ethylene, propylene, butadiene, MBTE, and butene-1; aromatics. The company also provides polymers, including linear lower, medium, and high density polyethylene products; and home, impact, and random polypropylene products. It serves customers in South Korea and internationally.
Solvay S.A. is a Belgian chemical company founded in 1863, with its head office in Neder-Over-Heembeek, Brussels, Belgium. The company has diversified into two major sectors of activity: chemicals and plastics. Solvay supplies over 1500 products across 35 brands of high-performance polymers пїЅ fluoropolymers, fluoroelastomers, fluorinated fluids, semi-aromatic polyamides, sulfone polymers, aromatic ultra polymers, high-barrier polymers and cross-linked high-performance compounds.
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