Hyosung starts expansion of Ulsan propylene factory

Home > Business > Industry

print dictionary print

Hyosung starts expansion of Ulsan propylene factory

Hyosung, one of the nation’s major chemical companies, said yesterday it started expansion of its propylene plant in Ulsan.

The company will invest 280 billion won ($266 million) to complete construction by May 2015.

The new facility, which will be built on 27,000 square meters (6.6 acres) of land near its Yongyeon plant, will produce 300,000 tons of propylene in a year, bringing the company’s annual production to 500,000 tons.

Propylene is used for making polypropylene, which is used for plastics, pipes and syringes for medical use.

Hyosung said the decision was based on expectations that prices of propane, a raw material used for making propylene, will drop due to shale gas development in North America.

More in Industry

Work at home is not as easy as it sounds, ministry says

Flying visit

[NEWS IN FOCUS] Spotify is still almost here, and seems to be getting closer

Korea Inc. calls on Suga to relax border restrictions

House-bound consumers awaken a sleeping industry

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now