Platts 2007/7/19
S Korean Honam Petchem to build, invest in $2.6 bil Qatar plant
South Korea's Honam Petrochemical said Thursday it has reached a
deal to build a $2.6 billion plant in Qatar with a subsidiary of
the state-run Qatar Petroleum.
Under the deal, Honam Petrochemical will invest $390 million to
have a
30% stake in
the joint project, with Qatar Intermediate Industries
Holdings Company controlling 70%, the company said in a filing to
the local stock
exchange.
The plant, which will start production by the second half of
2011, will produce up to 700,000 mt/year of polypropylene,
600,000 mt/year of styrene monomer and 220,000 mt/year of
polystyrene,
it said. (in Mesaieed, south of Doha.)
Oct. 8, 2007 Foster Wheeler
Foster Wheeler Awarded Front-End Engineering Design and Management Contracts for New Petrochemical Complex in QatarFoster Wheeler Ltd. announced today that two subsidiaries in its Global Engineering and Construction Group have been awarded contracts by Qatar Intermediate Industries Holding Co. Ltd. (Qatar Holding), a fully owned subsidiary of Qatar Petroleum, to execute the front-end engineering design (FEED) and to provide project management and construction management (PMCM) services for a new grassroots petrochemical complex to be located at Mesaieed in Qatar.
The new complex will include world-scale olefins and aromatics units, which will supply ethylene, propylene and benzene to the downstream polypropylene, ethylbenzene, styrene monomer and polystyrene facilities. The complex, which will also include ethylene-to-propylene conversion units, is scheduled for completion in 2011.
Platts 2007/7/27
S Korean Lotte Group working toward merger of three petchem firms
South Korean conglomerate Lotte Group is looking to merge three
of its petrochemical firms into a single entity, sources close to
the plan said this week. Two of these -- Lotte Daesan and Honam
Petrochemical
-- operate naphtha crackers and downstream petrochemical plants.
The third, KP Chemical, produces aromatics and synthetic
fibers, among other products.
KP
Chemical,
based in Ulsan, has a yearly capacity of 200,000 mt of
paraxylene,
40,000 mt of orthoxylene, 23,000 mt of benzene and 6,000 mt of
toluene from one plant. At another plant, it is capable of
producing 500,000 mt/year of paraxylene, 150,000 mt/year of orthoxylene,
70,000 mt/year of benzene and 14,000 mt/year of toluene.
KP Chemical Corp., an affiliate of South Korea’s Lotte Group
KP Chemical is the largest producer of purified isophthalic acid (イソフタル酸 PIA) in Korea. The company is a recognized leader in the export of petrochemical products with around 95 percent of its products, including PIA, going to China, Japan, Hong Kong, Taiwan, Russia, Europe and the U.S.We annually produce 700,000tons of P-X, 1.1 million tons of PTA, 400,000tons of PPR, 60,000tons of MeX and 70,000tons of PIA products by using the vertically combined production system established in the Ulsan Plant Complexes 1 and 2, which measure 50,000 pyeong and 40,000 pyeong respectively. At KP Chemical, we are proud of holding the top spot in both domestic PIA and PPR production(4th and 7th places worldwide), as well as the No. 2 spot for P-X production and the No.3 place for PTA production in Korea.
Our production system purchases the basic raw material MX - separately acquired from an oil refinery - and produces P-X and MeX (Meta-Xylene). Our system is the only vertically combined production system in the world to use P-X and MeX as the raw materials for the follow-up process. The system greatly contributes to the production of high added value products with a simplified process, shared supplementary facilities and huge savings in investment, logistics and labor costs.
http://www.kpchem.com/
Weifang
Yaxing Signs LOI with Korea Firms 維坊亞星化学
On
October 10th, Weifang Yaxing Chemical Co., Ltd. announced that it
has singed a Letter of Intent (LOI) with two Korea companies, one
is Honam Petrochemical Company. Under the agreement, Honan
Petrochemical intends to acquire a 10% interest in Weifang
Yaxing, and the other Korea firm for a 1%
stake.
-----
Weifang
YAXING Chemical Co. Ltd is a normative public company
with YAXING Group as its holding company, which is one of the
national 520 key enterprises and one of the 200 key enterprises
in Shandong Province.
It has a developing history of over 80 years. Yaxing Chemical Co.
Ltd mainly deals in high-tech products such as chlorinated
polyethylene (CPE), PVC and membrane caustic
soda.
chlorinated polyethylene (CPE)
In 1990, Yaxing imported the 6,000t/a CPE plant from Hoescht AG, Germany.
Now Yaxing’s production capacity has reached up to 110,000t/a, 40% of the global CPE sales volume.Currently the outputs of the small and middle scale CPE producers in China are all less than 10,000t/a.
Yaxing CPE has been sold to 23 countries and regions all over the world, 40% of the world CPE market. The annual export volume is 30,000 tons and still increases by over 50% annually.PVC
membrane caustic soda
120,000t/a membrane caustic soda plant by introducing world’s most advanced technologies and equipment from Uhde, Germany
The joint ventures with Lanxess, Germany and Lotte, Korea produces hydrazine hydrate and CPE respectively. The production technology and equipment of Yaxing Chemical takes the lead globally.
LANXESS Yaxing Chemical (Weifang) Company Ltd. （Lanxess 55% ）
hydrazine hydrate in Weifang in the Chinese province of Shandong 山東省維坊
Successful relocation of plant from Texas, USA, to China
With an initial capacity of 12,000 metric tons a year, the new plant is one of the largest of its kind in the world
http://kaznak.web.infoseek.co.jp/big/lanxess.htm#hydrazine-completeWeifang Yaxing Lotte Chemical Company Ltd. （Honam Petrochemical 50%)
40 000 t/a CPE (chlorinated polyethylene) project started production in June 2005
expanded its existing 40 000 t/a CPE (chlorinated polyethylene) capacity to 45 000 t/a.
2008/4/24 Asia Chemical Weekly LOI
Korean Honam takes stake
in China top CPE producer
S.Korea’s Honam Petrochemical Co.,- a
subsidiary of Lotte Group, has got the approval from Provincial
Government for taking stake in China largest Chlorinated
Polyethylene (CPE) producer - YaSing (亞星) Group, based in WeiFang,
Shandong Province.
By investing USD 9.47 million (RMB 66.1 million), Honam has taken
10% stakes from YaSing Group, at the same time, another Korean
company ? Daeil also got 1% stakes from YaSing by investing USD
0.947 million (RMB 6.61 million). Currently, YaSing Group becomes
into a jv of WeiFang Government (45.4%), YaSing Investment Co.
(44.6%), Honam (10%), and Daeil (1%).
YaSing Group is the largest CPE producer in China. With the total
CPE capacity of 110,000 ton/year by its two subsidiaries ? YaSing
Chemical and YaSing-Lotte, it accounts for about 70% of CPE
market (around 150,000 ton/year) in China.
YaSing Chemical operates a 70,000 ton/year CPE plant, while
YaSing-Lotte - a 75:25 jv between YaSing Group and Honam
PetroChem, is operates a 40,000 ton/year CPE plant.
Yasing-Lotte is also building a second 60,000 ton/year CPE
project in the same site, which is expected to start up in Aug.
2008. After that, YaSing’s total CPE capacity could reach
170,000 ton/year.
In 2007, YaSing produced CPE 106 kt in total, PVC 39 kt, Caustic
Soda 183 kt and Chlorine 127 kt.
CPE is a synthetic Polymer material by chlorination of
high-density polyethylene (HDPE).
S Korea's Lotte Daesan, Honam to complete merger January 2
South Korean petrochemical affiliates Honam Petrochemical and Lotte Daesan Petrochemical are slated to fully merge by January 2, 2009, Honam's spokesman Son-Joo Kim said Wednesday.
2009/1/5 Platts
Honam Petrochemical completes merger with Lotte Daesan
South Korea's Honam Petrochemical and Lotte Daesan Petrochemical have formally completed their merger, and began their first day of trading as Honam Petrochemical on Monday, spokesman Son-Joo Kim said.
The companies initiated a partial merger in June 2007 by joining their sales, marketing and purchasing divisions.
The Lotte Group has a 57% share in Honam, with the remaining 43% of shares floating free on the Korea Stock Exchange. Lotte Daesan was not listed on the KSE.