MOSCOW (MRC) -- Daelim has been recently awarded a contract by Hyundai Chemical, a joint venture of Hyundai Oilbank and Lotte Chemical, for a heavy feed petrochemical complex being built in Daesan, South Korea, as per Apic-online.
The project, scheduled to be completed in 2021, will include the production of 300,000 t/y each of low-density polyethylene (LDPE) and high-density polyethylene (HDPE), as well as 250,000 t/y of polypropylene (PP).
Daelim's contract, valued at KRW 535.4-billion, in-volves responsibility for design, materials and equip-ment, procurement and construction.
LyondellBasell's Lupotech T process technology will be used for the LDPE plant. The HDPE and PP unit will utilize Univation Technologies' Unipol PE technology and W. R. Grace & Co.'s Unipol PP technology, respectively.
As MRC wrote before, in February 2019, Saudi Aramco with its partner Total has announced the signing of a Memorandum of Understanding (MoU) with Daelim, a South Korean petrochemical company. Under the MoU, Daelim is planning to build a new 80,000 tons state-of-the-art Polyisobutylene (PIB) plant, which is expected to come on-stream in 2024. This agreement is another step to drive Saudi Aramco’s petrochemicals growth strategy. This follows Saudi Aramco’s announcement in October 2018 to launch an engineering study to build a large petrochemical complex in Jubail.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,904,410 tonnes in the first eleven months of 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments increased from both domestic producers and foreign suppliers. The PP consumption in the Russian market was 1,161,830 tonnes in January-November 2019, up by 7% year on year. Deliveries of all grades of propylene polymers increased, with the homopolymer PP segment accounting for the largest increase.
MRC