Honam, Mitsubishi to invest in petrochem plant in Seoul

South Korea's Honam Petrochemical Corp and Japan's Mitsubishi Rayon plan to set up a joint petrochemical plant in Yosu, south of Seoul, with an initial investment of US$40 mln. Construction is slated to commence in H2-2008, and schedule for completion in 2009, and will have an annual production capacity of 15,000 tons of hydroxyethyl methacrylate, which South Korea imports entirely from Japan. Honam Petrochemical and Mitsubishi Rayon have set up a joint venture in 2006 to build two petrochemical plants H2-2008: a 90,000 tpa methyl methacrylate (MMA) plant and 40,000 tpa poly methyl methacrylate (PMMA) plant.
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