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18-01-2013

Hyundai Cosmo production and shipping from the new para-xylene production unit

Cosmo Oil Co., Ltd and Hyundai Oilbank have been conducting test operations of the new para-xylene production plant though the joint venture company, HCP. The company is pleased to announce that production have commenced 5 months in advance of the original schedule and the first shipment have been made on January 18, 2013. HCP has a total production capacity of 1,180 kt/yr of PX (including 380 kt/yr from the existing facility) and 250 kt/yr of BZ (including 130 kt/yr from the existing facility) PX is the raw material for producing polyester (polyester is used for making clothing, PET resin, etc). Polyester demand is expected to grow steadily backed by the increasing population and economic development in Asia with China being the core. Cosmo will supply mixed-xylene, which is extracted from the gasoline fraction to manage the declining domestic demand for gasoline, as feedstock for the new PX Unit and further enhance business profitability in the petrochemicals field.

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