An aromatics plant is being mulled by South Korean petroleum refiner Hyundai Oil Bank and oil company Cepsa of Spain. The aromatics plant, to be located in South Korea, is to produce benzene and paraxylene and could include cumene and phenol plants and a purified terepthalic acid (PTA) plant.
This development is in line with Cepsa's aim to tap the Asian market for petrochemicals, a strategy that may also be extended to United Arab Emirates. UAE's International Petroleum Investment Co owns 50% of HDO that operates an aromatics plant built in 1997 in Daesan, South Korea, with production capacity of 300,000 tpa paraxylene and 100,000 tpa benzene.
Cepsa is also currently seeking approval from Chinese authorities for a possible opening of a PTA plant in China.
16-Apr-07 
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