ULSAN < invest Korea

According to Yonhap News,

Ulsan-si announced on March 31 that it will sign an investment agreement for large-scale expansion of its plant with TL Chemical, a joint venture between Taekwang Industrial and LG Chem.

The city and TL Chemical will sign the MOU for investment in the expansion of acrylonitrile (AN) production facilities at the City Hall on March 31.

According to the agreement, TL Chemical will actively invest in the expansion of its AN production facility in Ulsan, contributing to job creation, while the city will provide support to ensure TL Chemical's smooth investment.

TL Chemical plans to expand its AN production facilities, an annual capacity of 260,000 tons on the site inside the Mipo Industrial Complex in Ulsan by 2025, and hire more than 100 employees.

Previously, TL Chemical established the headquarters of a joint venture in Ulsan last year.

Meanwhile, AN is a monomer that uses propylene and ammonia as raw materials, and is used as a raw material for acrylic fiber, acrylonitrile butadiene styrene copolymer (ABS resin), and nitrile butadiene latex (NBL).

yongtae@yna.co.kr

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Source: Yonhap News (March 31, 2022)