Honeywell announced that Hyundai Chemical Co. will use Honeywell UOP technology to expand its petrochemicals complex in Daesan Republic, South Korea, allowing it to make its own feedstock material to boost profitability.
The facility will use technology as well as modular equipment from Honeywell UOP to allow the plant to make mixed xylenes, a critical feedstock used by the plant to produce para-xylene, a building block for synthetic fibers, packaging and plastics that is in high demand in Asia.
Back-integrating the facility to make its own feedstock will reduce the plant’s dependence on imports of mixed xylenes and its exposure to the volatile market for the feedstock. The plant currently uses Honeywell UOP technology to produce para-xylene.
“Back-integrating this plant using Honeywell UOP technology and equipment will allow Hyundai Chemical to better manage its operations and make it a more competitive player in the market for para-xylene,” said Mike Millard, vice president and general manager of Honeywell UOP’s Process Technology and Equipment business. “Using modular equipment for the project ensures that the expansion will be operational sooner than if the equipment were built on site.”