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Hyundai Chemical to start up new HDPE plant by end 2021

December 21/2021

MOSCOW (MRC) -- Hyundai Oilbank has announced that the companys joint venture with Lotte Chemical Petrochemical is set to start up its high density polyethylene (HDPE) plant in Daesan, South Korea by the end of 2021, according to CommoPlast.

Thus, the plant, which will be able to produce 850,000 tons/year of HDPE at its two lines, will be operated by Hyundai Chemical.

The companies' joint petrochemical project in Daesan that costs 2.7 trillion Korean Won (USD2.5 billion) also consists of a cracker with the capacity of 900,000 tons/year of ethylene and a polypropylene (PP) plant with the capacity of 500,000 tons/year.

As MRC reported earlier, Hyundai Chemical started to market cargoes from the new PP plant in Daesan in mid-November, 2021.

According to MRC's ScanPlast report, October estimated HDPE consumption in Russia dropped to 107,120 tonnes from 124,600 tonnes a month earlier. Domestic producers reduced their output due to scheduled turnarounds, whereas exports increased. Overall HDPE shipments to the Russian market totalled 1,166,460 tonnes in the first ten months of 2021, up by 22% year on year. Production increased by 7%, whereas exports fell by 19%. 

Hyundai Chemical is a joint venture between South Koreas Lotte Chemical and Hyundai Oilbank


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, propylene, HDPE, ethylene, Hyundai Petrochemical, Lotte Chemical, South Korea.
Category:General News
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