Toyo Engineering wins South Korean EO/EG plant contract
Korea Petrochemical Industry (KPIC) has contracted Toyo Engineering Korea, a Korean subsidiary of the Toyo Engineering Corporation, to construct its ethylene oxide (EO) and ethylene glycol (EG) plant in Ulsan, South Korea.
As part of the contract, TOYO will provide engineering, procurement and construction management, based on the basic design package of Scientific Design (SD), a US-based company.
The EO/EG plant, which is scheduled to be completed by the end of May 2014, will have the capacity produce 80,000tpy of EO and 205,000tpy of EG.
The financial details of the contract have not been revealed.
EO is used to manufacture detergents, thickeners, solvents and plastics, while EG is used as automotive antifreeze and a precursor to polyester fibre and PET.
Based on SD's technology, TOYO has so far built 13 EO/EG plants across the globe, including two facilities in South Korea.
Established in 1970, KPIC manufactures and supplies petrochemical derivatives, such as propylene and ethylene as well as synthetic resins such as polypropylene (PP) and high-density polyethylene (HDPE).
KPIC has eight resins production plants in Ulsan, which are equipped with swing system to manufacture PP and HDPE.