MOSCOW (MRC) -- To Build New Olefins Facility in Yeosu, South Korean GS Caltex is planning to invest approximately USD1.8-billion to build a new olefins production plant in Yeosu, South Korea, reported Apic-online with reference to several industry sources citing a company statement.
The project involves construction of the company's first mixed feed cracker, which will have the capacity to produce 700,000 t/y of ethylene and 500,000 t/y of polyethylene. Construction is expected to start this year with operations anticipated to begin in 2022.
According to GS Caltex's website, the company has a 790,000-b/d refinery at Yeosu, as well as an aromatics facility producing over 1.35-million t/y of paraxylene, 900,000 t/y of benzene and other aromatics products. It also produces 180,000 t/y of polypropylene.
As MRC informed before, in 2013, CB&I was awarded a contract by GS Caltex for the license, basic engineering and catalyst supply for a new paraxylene (PX) unit to be built in Yeosu, Korea. The unit uses the BP paraxylene technology, exclusively licensed by CB&I, and has a world-scale design capacity. Start-up took place in 2016.
GS Caltex is an equally-owned joint venture of GS Holdings and Chevron.