South Korean energy and petrochemical major – SK Energy will add a new 1.3 million tons per annum paraxylene (PX) capacity.
This new facility will be built in its Incheon refining complex at a cost of around US $1.4 billion, said a statement from the company.
SK Energy plans to sell the PX into China which is in close proximity to the Incheon complex and alongside also expand its presence in the Asian market.
SK Energy also operates a 758,000 tons per annum PX unit in the southeastern city of Ulsan.
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