HC Petrochem plans to invest US$568 mln in a BTX complex in Daesan, South Chungcheong Province. This will be the cmpany’s second BTX complex, which produces benzene, toluene and paraxylene, and will triple its production capacity. HC Petrochem, a joint venture between Hyundai Oilbank Co. and Japan’s Cosmo Oil Co. The new facility is scheduled for completion in June 2013, and will add 1 million metric tons to HC Petrochem’s annual production capacity.
All of the benzene and paraxylene produced by the new plant are planned to be exported to China, Europe and other markets.