Samsung Total Petrochemicals will invest US $1.44 billion to set up a greenfield paraxylene (PX) plant at its existing Daesan complex in South Korea.
The new plant which will have a PX capacity of one million metric tons is expected to be begin commercial operations in the third quarter of 2014.
Samsung Total is a joint venture between South Korea based Samsung Group and French chemical major Total Group.
With the addition of new PX capacity in 2014, PX capacity at Samsung Total will touch 1.6 million metric tons.
Fibre2fashion News Desk - India