Speculating that propane prices are going to sink due to the brisk development in shale gas, South Korean industrial conglomerate Hyosung (Seoul; www.hyosung.com) has announced plans to build a propylene plant and have it finished by May 2015.

According to Korean news agency "Yonhap", the company is investing around USD 270m in the construction of the new facility in Ulsan, a well-known petrochem site 414 kms southeast of Seoul. Once completed, the company's propylene production capacity will more than double to 500,000 t/y from its current 200,000 t/y.

Plasteurope.com database Polyglobe (www.polyglobe.net) indicates Hyosung produces PP, PA 6 and carbon fibres. In August, it was announced that the company was returning to the production of aliphatic polyketone (PK) after Shell halted its production 13 years ago – see Plasteurope.com of 28.08.2013.