South Korea's Samsung Total Petrochemicals said Friday its board of directors has approved the investment of Won 1.66 trillion ($1.44 billion) to build a new 1 million mt/year paraxylene plant at its Daesan complex on the country's west coast.
When the new plant comes on line in September 2014, the company's total paraxylene capacity will increase to 1.6 million mt/year, from 600,000 mt/year at present.
Samsung Total is a 50-50 joint venture between South Korea's Samsung Group and the French chemical group Total.
