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Hyundai Oilbank, Lotte Chemical eye mixed xylenes venture in South Korea

07.17.2013  | 

The 1 trillion won ($892 million) factory at Seosan, southwest of Seoul, will be finished by late 2016, it added. It will make 1 million metric tons each of mixed xylenes and light naphtha, allowing the companies to cut imports of these by about 2 trillion won worth each year, Hyundai Oilbank said.

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By IN-SOO NAM

SEOUL -- South Korea's Hyundai Oilbank and Lotte Chemical will jointly build a petrochemical factory, Hyundai Oilbank Co. said on Wednesday.

The 1 trillion won ($892 million) factory at Seosan, southwest of Seoul, will be finished by late 2016, it added.

It will make 1 million metric tons each of mixed xylenes and light naphtha, allowing the companies to cut imports of these by about 2 trillion won worth each year, Hyundai Oilbank said in a statement.

A final agreement should be reached before the end of the year, it said.

Hyundai Cosmo -- jointly owned by Japan's Cosmo Oil and Hyundai Oilbank -- and Lotte Chemical will take the mixed xylenes and Lotte Chemical the light naphtha.

Mixed xylene is a feedstock used to make xylene.


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Henry Jo
07.19.2013

The description is not clear. Hyundai Oil Bank is a refinery and Lotte Chemical is a petrochemical company. Xylene is typically made from a refinery reformer process. Light naphtha from the refinery can be feed stock to naphtha cracker unit, which will produce ethylene and propylene and some heavier material. I am not sure how much naphtha cracker will produce the mixed xylene. P-xylene is the main product from mixed xylene.

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