Hyosung (Seoul, South Korea), a producer of polypropylene (PP), will invest $1.2 billion to build a a propane dehydrogenation (PDH) and PP complex, and LPG storage facilities in Vietnam, the company says in a regulatory filing.
The project will be in the Tan Thanh district of Ba Ria-Vung Tau Province near Ho Chi Minh City. Hyosung says it has signed a memorandum of understanding with the government of Vietnam to go ahead with the plan, which aims to increase the company’s market share for PP in high-growth markets, such as Vietnam, China, and the rest of Southeast
The project will be implemented in two phases. Starting this year, Hyosung plans to invest $133 million for the LPG tank and $335 million for the first, 300,000-metric tons/year PP line. The second phase will involve an expenditure of $500 million and $225 million for a PDH unit and a second PP line, respectively. The second phase will double PP capacity at the site.
Hyosung has a manufacturing presence in Vietnam, producing spandex fiber and automotive tire cord in the Nhon Trach industrial zone of Dong Nai Province. The company operates PP plants at Ulsan, South Korea, based on the Hypol and Unipol processes. The company says it is also planning to add 200,000 metric tons/year of PP capacity in South Korea.
By Ian Young
Source: Chemical Week
During a European Industry Summit held on the site of BASF in Antwerp, leaders from basic industry sectors, representing 7.8 million workers in Europe, joined forces with European trade unions and European leaders to address pressing concerns regarding Europe’s industrial landscape.
The use of blue or low-carbon hydrogen, made from natural gas with carbon capture and storage (CCS), could increase near-term global warming by 50% compared with burning fossil fuels directly for energy if emissions are not properly managed, according to a new study by NGO the US Environmental Defense Fund (EDF) and the University of Arizona.
In a move to improve the supply of renewable hydrogen and thus reduce dependence on natural gas and contribute to achieving the objectives of the European Green Deal and the REPowerEU plan, the EU Commission has approved a third Important project of common European interest (IPCEI) to support hydrogen infrastructure.