LyondellBasell joint venture to expand its polypropylene capacity in South Korea
Company Ltd. (a 50:50 joint venture of LynodellBasell and Daelim of S. Korea) announced that it would establish a joint venture with SK Advanced in South Korea. The joint venture intends to build a new 400,000 ton/year polypropylene plant to serve customers in Asia. The plant will be located in the southeastern port city of Ulsan and is dependent on regulatory filings and permitting reviews.
Construction on the project will begin in January 2019 and operations at the plant will begin in the first half of 2021.
The new polypro- pylene plant will be one of the largest of its kind in Asia and will utilize LyondellBasell’s Spheripol technology. Polypropylene manufactured at the joint venture will be sold to customers in South Korea and exported throughout Asia for use in automotive components, injection molding, blow molding and packaging film. Some of the polypropylene will also be sold to compounding companies in South Korea and the broader region.