Hyosung to invest US$266 mln to build a propylene plant by May 2015

18-Dec-13

Leading South Korean maker of textiles and heavy machinery -- Hyosung Corp., plans to invest US$$266 mln to build a propylene plant in Ulsan by May 2015, as per Yonhap. The plan was launched on expectations that the recent brisk development of shale gas may send the prices of propane, a raw material for propylene, down and help Hyosung profit more from the propylene production. Upon completion, the company's propylene production capacity will more than double to 500,000 tons from the current 200,000 tons.