Daelim Industrial to build Hyundai Chemical plant

Daelim Industrial won a 535.4 billion won ($462 million) contract to build a petrochemical plant for Hyundai Chemical, the construction company said Wednesday.

Hyundai Chemical, a joint venture of Lotte Chemical and Hyundai Oilbank, had invested a total of 2.7 trillion won into the project. The entire complex is currently under construction at Hyundai Oilbank’s production site in Daesan, South Chungcheong.

Daelim’s job is to build a petrochemical factory that has the capacity to annually produce 300,000 tons of polypropylene and 600,000 tons of polyethylene. The construction is due to be completed in June 2021.

Polypropylene is used for medicine packages and car parts for its resistance to heat and chemicals. Polyethylene has a wide range of uses in packaging, containers and electric wires.

By Song Kyoung-son