Having completed a trial run, the second BTX plant, constructed with an investment of KRW 530 billion from Korea’s Hyundai Oilbank and Japan’s Cosmo Oil, will start operations.

Hyundai Oilbank held a building completion ceremony at the Daesan Industrial Complex in South Chungcheong Province last Wednesday with President Gwon Oh-gap of Hyundai Oilbank and President Yaichi Kimura of Cosmo Oil in attendance.

The second BTX plant will produce 850,000 tons of P-xylene and 150,000 tons of Benzene per year. With this new plant, Hyundai Oilbank will be able to increase P-xylene and Benzene production up to 500,000 and 1,500,000 tons, respectively, annually. It currently produces 380,000 and 1,200,000 tons of P-xylene and Benzene. The company also expects that the new plant will help it achieve more than KRW 1 trillion in annual sales.

Source: Newsis (Apr. 3, 2013)

** This article was translated from the Korean.