SK Global Chemical Co., the first South Korean company to build a naphtha cracking facility capable of 100,000 tons of annual production, is building a new petrochemical facility on Singapore's Jurong Island at a cost of US$ 2.4 billion.
The new facility is scheduled to become operational in 2014, and will cater to Southeast Asia as well as China's growing market for refined petrochemical products.
The new plant will have a capacity to produce 4 million tons of petrochemicals every year. Out of this, 1.4 million tons will be paraxylene (PX) and benzene, used as raw material in the manufacturing of polyester and nylon fabrics, respectively.
SK Global Chemical is in joint venture with SK Engineering and Construction Co. and SK Gas to build the facility on Jurong Island in Singapore. The project work is being overseen by Jurong Aromatics Corp. Pte., in which SK Global Chemical holds a 30 percent share.
Fibre2fashion News Desk - India
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