JEOLLABUK-DO < invest Korea

According to Yonhap News,

(SEJONG=Yonhap News) Solvay S.A., a global chemical producer based in Belgium, will soon begin producing silica at its new production facility in South Korea, the commerce ministry said Wednesday.

This file photo, taken on May 22, 2015, shows the construction site of Solvay's new production facility in Gunsan, South Korea. (Yonhap)

A ceremony marking the completion of construction of the 120 billion won (US$104.5 million) facility was held early Wednesday in Gunsan, located some 270 kilometers south of Seoul, according to the Ministry of Trade, Industry and Energy.

The facility with an annual capacity of 720,000 tons will produce silica or silicon dioxide, a chemical substance with a wide range of applications from structural materials to components used in the food industry.

It will produce highly dispersible silica that will be used to make environmentally friendly vehicle tires, the ministry said.

About 55 percent of the amount will be shipped overseas while the rest will remain here to replace about 200 billion won worth of imports each year.

"The facility will not only help boost the country's exports, but it will also help turn Gunsan into a production base for advanced industrial materials," Vice Minister Jeong Marn-ki was quoted as saying.

kan@yna.co.kr

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