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Recently, Hyosung Chemical of South Korea announced that the polypropylene (PP) plant built by the company with an investment of 1.
5 trillion won has been put into commercial production, and the storage tanks and processing facilities for storing the raw material liquefied petroleum gas (LPG) will also be at the same time.
Put into use
.
Hyosung Chemical ensures product price competitiveness through this move, thereby accelerating its expansion in markets such as Southeast Asia and China
Hyosung Chemical said that the PP plant officially put into operation is the second PP plant constructed by Hyosung Chemical in Vung Tau Province, Ba Ria, Vietnam, with an annual production capacity of 300,000 tons
.
In addition to the 300,000 tons/year capacity of the first Vietnam PP plant completed in February last year, Hyosung’s total annual PP production capacity in Vietnam amounts to 600,000 tons
Hyosung Chemical expects that the completion of the PP project in Vietnam will help improve the company's export competitiveness in ASEAN countries
.
The company plans to use Vietnam as a global PP production base to further expand its overseas market share