ULSAN < invest Korea

According to Yonhap News,

Ulsan-si announced on April 17 that Korea Petrochemical (KPIC) will invest KRW 140.5 billion in the idle site of the Onsan plant to build a butadiene (BD) production facility. The annual production capacity of this facility, which will begin operation from April next year, is 150,000 tons.

BD is a raw material for high value-added synthetic resin acrylonitrile butadiene styrene (ABS), which is in limelight as a material for automobile tires and others.

KPIC expects this new facility to enable the advancement of Mixed C4s.

Mixed C4s are raw materials for chemical products produced together with ethylene and propylene depending on the boiling point during the naphtha cracking process, and also a raw material for BD.

Up until now, KPIC has only produced mixed C4s and sold it to BD producers. However, with the completion of this production facility, it will also be equipped with a BD production system.

The city and KPIC signed a memorandum of understanding (MOU) on the construction of new BD production facility on March 17.

This investment is expected to create about 30 new jobs.

Meanwhile, KPIC also invested KRW 160 billion last year to expand NCC production facility in Onsan plant to diversify its products and improve profitability.

canto@yna.co.kr

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Source: Yonhap News (March 13, 2022)