MOSCOW (MRC) -- Hanwha Chemical, one of the largest business conglomerate in South Korea, is in plans to shut its oxo-alcohols plant for maintenance turnaround, as per Apic-online.
A Polymerupdate source in South Korea informed that the plant is planned to be shut on February 18, 2014. It is likely to remain off-stream for around one month.
Located at Yeosu, South Korea, the plant has a 2-ethyl hexanol(2-EH) capacity of 100,000 mt/year and normal butyl alcohol (NBVA) capacity of 10,000 mt/year.
As MRC wrote previously, Sipchem Chemicals Company (SCC), an affiliate of Saudi's Sipchem, signed on July 22, 2013 an incorporation agreement with Hanwha Chemicals Corporation to form a new company, under name of "Saudi Specialty Products Company" for establishing conversion projects in Saudi Arabia. The Joint Venture between SCC and Hanwha comprised of two manufacturing facilities; the first one located at Hail will produce 4,000 MTPA of EVA films whereas the second one located at Riyadh will manufacture plastic moulds up to 1000 tons. It is noteworthy that Sipchem Chemicals Company owns 75% of new company capital while Korean Hanwha owns 25%.
Hanwha Group is one of the largest business conglomerate in South Korea. Founded in 1952 as Korea Explosives Inc., the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives, their original business, to retail to financial services.
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