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Hyundai Cosmo's Korean PX plant commences production
22
Jan '13
First PX shipment from Daesan Refinery
First PX shipment from Daesan Refinery
Hyundai Cosmo Petrochemical Co., Ltd. (HCP), a joint venture of Japan’s Cosmo Oil Co., Ltd. and South Korean Hyundai Oilbank, has commenced operations at he new paraxylene (PX) plant five months ahead of the original schedule, according to a statement from Cosmo.
 
The statement added PX production at the Korean plant has begun after completion of the test operations and the first shipment was made on January 18, 2013.
 
HCP has a total production capacity of 1,180 kilo tons per year of PX, which includes 380 kilo tons per year from the existing facility and 800 kilo tons per year from the new plant. 
 
In addition, HCP also has a production capacity of 250 kilo tons per year of benzene, of which 120 kilo tons per year would be produced from the new plant, while HCP already has existing capacity of 130 kilo tons per year.
 
PX is the raw material for producing polyester, which is used for making clothing, PET resin, etc. Polyester demand is expected to grow steadily backed by the increasing population and economic development in Asia with China being the core, the statement said.
 
Cosmo will supply mixed-xylene, which is extracted from the gasoline fraction to manage the declining domestic demand for gasoline, as feedstock for the new PX Unit and further enhance business profitability in the petrochemicals field.
 

Fibre2fashion News Desk - India

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