KOREA (SOUTH): Daelim Industrial wins KRW 535 billion plant order

Daelim Industrial Co., a major construction firm in South Korea, said Wednesday it has won a KRW 535.4 billion (USD 462 million) order to build a petrochemical plant in South Korea. Under the deal with Hyundai Chemical Co., Daelim Industrial will build the heavy-feed petrochemical complex in Daesan, some 120 kilometers south of Seoul.

The builder aims to complete the project by June 2021. The plant will be able to produce 250,000 t/y of polypropylene as well as 600,000 t/y of polyethylene, according to the company. Daelim Industrial is the No. 3 builder in South Korea in terms of building capacity, according to recent government data. Hyundai Chemical is a joint venture between South Korea's Hyundai Oilbank Co. and Lotte Chemical Corp.

Source: Yonhap News Agency, Seoul; 6 Nov 2019
(Syed Rashid Ali, Karachi, Pakistan)