According to "Asian Chemical News", after the completion of the reconstruction project for some new olefin projects and crackers in Korea, it will completely reverse the current shortage of propylene supply, and there will be a surplus from 2007.
According to the Korea Petrochemical Industry Association, since Kumho and LG Petrochemical have newly put in two sets of phenol devices, this year South Korea expects to import 350,000 tons of propylene, which is higher than the 235,000 tons in 2004. In addition, PolyMirae has expanded its polypropylene production capacity by 72,000 tons/year to 615,000 tons/year. It is expected that the contradiction between supply and demand for propylene in Korea will be eased after 2006.
On July 14, LG Petrochemical Corporation announced the construction of a set of 130,000-ton/year olefins plant in Lichuan, scheduled to be put into production in the fourth quarter of 2006. The dehydration of the ethylene cracker will be carried out in May 2006 to increase production capacity. 50,000 tons/year, reaching 420,000 tons/year. By 2007, LG will have a production capacity of 550,000 tons/year of propylene and achieve self-sufficiency in propylene. The surplus part can also be sold externally.
In addition, Korea Petrochemical Industry Corporation (KPIC) plans to put into operation a set of 110,000 tons/year of olefin units in December this year, and from September to October this year, a set of crackers will be removed from the bottleneck to increase the propylene production capacity by 30,000 tons/year. To reach 240,000 tons/year, the total production capacity will reach 350,000 tons/year.
According to the Korea Petrochemical Industry Association, since Kumho and LG Petrochemical have newly put in two sets of phenol devices, this year South Korea expects to import 350,000 tons of propylene, which is higher than the 235,000 tons in 2004. In addition, PolyMirae has expanded its polypropylene production capacity by 72,000 tons/year to 615,000 tons/year. It is expected that the contradiction between supply and demand for propylene in Korea will be eased after 2006.
On July 14, LG Petrochemical Corporation announced the construction of a set of 130,000-ton/year olefins plant in Lichuan, scheduled to be put into production in the fourth quarter of 2006. The dehydration of the ethylene cracker will be carried out in May 2006 to increase production capacity. 50,000 tons/year, reaching 420,000 tons/year. By 2007, LG will have a production capacity of 550,000 tons/year of propylene and achieve self-sufficiency in propylene. The surplus part can also be sold externally.
In addition, Korea Petrochemical Industry Corporation (KPIC) plans to put into operation a set of 110,000 tons/year of olefin units in December this year, and from September to October this year, a set of crackers will be removed from the bottleneck to increase the propylene production capacity by 30,000 tons/year. To reach 240,000 tons/year, the total production capacity will reach 350,000 tons/year.
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