Home / Knowledge / News / Textiles / Korean firm to build $266mn propylene plant in Seoul
Korean firm to build $266mn propylene plant in Seoul
20
Dec '13
South Korea-based textiles and textile machinery manufacturer Hyosung Corp has announced that it would construct a 280 billion South Korean won (approx. US$ 266 million) propylene plant in South Korean city of Ulsan.
 
According to the firm, the project for building the propylene plant was launched in expectations that the recent brisk development of shale gas may decrease the prices of propane, a raw material for propylene, and help Hyosung profit more from the propylene production, reports South Korean news agency Yonhap.
 
The textile firm intends to build the propylene plant in Ulsan, around 414 km southeast of the capital city of Seoul. The construction of the plant is expected to be completed by May 2015.
 
On completion, the propylene plant would boost the company’s annual propylene production capacity to 500,000 tons, from the existing 200,000 tons.
 
Established in 1957, the South Korean firm operates in various fields including textiles and chemicals. The company is active in specialty chemical production, tire fabric, and textile machinery manufacturing.
 
Since its establishment, Hyosung has grown into a global network of more than 30 overseas subsidiaries in China, Southeast Asia, Europe, and North America, and is also the largest spandex manufacturer in China.
 
Propylene finds use as a feedstock in manufacturing of various products, especially textiles.
 

Fibre2fashion News Desk - India


Must ReadView All

OECD urges UK for close EU ties to meet Brexit challenges

Textiles | On 24th Oct 2017

OECD urges UK for close EU ties to meet Brexit challenges

The British economy has weakened following the decision to leave the...

Accord, Alliance to leave Bangladesh in 2018

Apparel/Garments | On 24th Oct 2017

Accord, Alliance to leave Bangladesh in 2018

Accord and Alliance, the two western buyers' platforms working to...

Gujarat govt announces bonus for cotton farmers

Textiles | On 24th Oct 2017

Gujarat govt announces bonus for cotton farmers

The Gujarat government has announced a bonus of Rs 100 per 20 kg for...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Top executives
Textile & apparel bodies

The decision is transformational

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search