Versalis signs agreement with Honam Petrochemical for elastomer production

Source: Eni

Versalis, Eni’s chemical subsidiary and global leader in elastomers, and Honam Petrochemical Corporation, one of the major petrochemical companies in South Korea, have signed an agreement for the development of an elastomeric production plant at its Honam facilities in Yeosu (South Korea).

The new site will use Versalis’ proprietary technologies and will have a production capacity of about 200.000 tons of elastomers annually, which will be delivered primarily on the Asian markets. The start-up is planned by the end 2015. Versalis will provide its engineering services, commercial development skills and technical assistance while Honam will provide the primary raw materials, operative sites and existing structures.

The agreement signed in Milan by the CEO of Versalis, Daniele Ferrari, and the CEO of Honam Petrochemical Corporation, Sooyoung Huh, sets the basis for the creation of a joint venture, the goal of which is to strengthen Versalis’ position on the global market, particularly in the Asia-Pacific region.

The partnership with Honam Petrochemical Corporation is in addition to the recent inauguration of the new Versalis office in Shanghai and its joint venture with Petronas for the development and joint use of a production plant in Malaysia.


Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs