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Daelim Industrial wins 535 bln-won plant order

November 07/2019

MOSCOW (MRC) -- Daelim Industrial Co., a major construction firm in South Korea, said Wednesday it has won a 535.4 billion won (USD462 million) order to build a petrochemical plant in South Korea, reported Yonhap News Agency.

Under the deal with Hyundai Chemical Co., Daelim Industrial will build the heavy-feed petrochemical complex in Daesan, some 120 kilometers south of Seoul. The builder aims to complete the project by June 2021.

The plant will be able to produce 250,000 tons of polypropylene (PP) as well as 600,000 tons of polyethylene (PE) a year, according to the company.

Daelim Industrial is the No.-3 builder in South Korea in terms of building capacity, according to recent government data.

As MRC informed before, in May 2019, Hyundai Chemical Co. selected Univation Technologies' Unipol PE technology for a new high-density polyethylene (HDPE) facility to be built in South Korea. The 300,000-t/y high density polyethylene (HDPE) plant, which will be located at Hyundai's site in Daesan, will utilize Univation's broad range of HDPE product technology portfolio, including the Acclaim K-100 Catalyst series for advanced HDPE products.  An expected completion date for the project was not given.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year.  Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.

Hyundai Chemical is a joint venture between South Korea's Hyundai Oilbank Co. and Lotte Chemical Corp.
Author:Margaret Volkova
Tags:PP, PE, PP block copolymer, homopolymer PP, HDPE, Hyundai Petrochemical, Russia, South Korea.
Category:General News
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