Honam Petrochemical, the South Korea based petrochemical major will invest around 520 billion won or US $453 million to increase its ethylene capacity.
This was revealed to Fibre2fashion by Mr Lee, General Manager of Honam Petrochemical who said that they will expand their naphtha cracker capacity by 250,000 tons per annum.
This project will be completed by October 31, 2012 and take total naphtha cracking capacity to two million tons per year, in turn making it the largest producer of ethylene in South Korea.