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Hyosung plans to start 600,000 tons of PDH and 300,000 tons of PP plants

 Last Update: 2022-11-16
 Source: Internet
 Author: User

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South Korean company Hyosung plans to start operations at its second 300,000-ton/year polypropylene (PP) unit in Ba Ria-Vung Tau after the start-up of the propane dehydrogenation (PDH) unit at the Vietnam Petrochemical Complex
.
The PP unit is likely to start operations by the end of the third quarter or the beginning of the fourth quarter of this year
.

According to market participants, Hyosung expects to start up its new PDH unit with a propylene capacity of 600,000 tonnes/year around July-August
.

Hyosung signed an agreement with the Vietnamese government to build a $1.
2 billion complex in Ba Ria-Vung Tau province in early 2017
.
It will include a 600,000 t/y PDH unit, two 300,000 t/y PP units and LPG storage facilities
.
Its first 300,000 t/y PP unit started operations in March 2020, using imported propylene
.

About 90% of Vietnam's PP consumption in 2020 depends on imports
.
The country has been a major target for Chinese PP exports to Southeast Asia because of its high PP consumption and import dependence, and its border with China
.

But a severe shortage of global PP supplies in March-April this year led to widespread arbitrage in China's exports to other markets, allowing the country to increase exports to other South Asian countries and Turkey, outpacing growth in exports to Vietnam
.
From March to April, Vietnam imported 75,000 tons of Chinese PP, an increase of 34,000 tons over the same period last year
.
China's polypropylene exports from March to April were about 524,000 tons, an increase of 404,000 tons year-on-year
.

The start-up of Hyosung's second PP plant is expected to put pressure on regional supply and prices in the second half of this year
.
Argus assessed PP wire drawing prices on 3 June at $1,180-1,200/t cfr Vietnam, down $205/t from two months ago, partly due to increased supply from new capacity in the Asia-Pacific region
.

According to market participants, Hyosung expects to start up its new PDH unit with a propylene capacity of 600,000 tonnes/year around July-August
.

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