China Chemical Reporter 2003／31(2003/10)
Huvis of Korea
Constructs 600 000 T/A PTA Plant
Huvis of Korea, a leading enterprise in the Korean polyester sector, will construct a 600 000 t/a PTA plant in Zigong, Sichuan.
Huvis of Korea and Sichuan Polyester Co., Ltd. jointly established Sichuan Huvis Chemical Fiber Co., Ltd. in Zigong in December 2002. The PTA project to be constructed by the Korean company alone is an upstream project matched to the polyester project.
Its First Overseas Corporation by Constructing 22,000-ton
Capacity Polyester Staple Fiber Plant in China
Named Sichuan-Huvis Chemical Synthetic Fibers Ltd., the new company will have a $90-million plant that produces polyester staple fiber. Once the construction is completed, the plant will cover an area of 50,000 pyong (1.8 million sq. ft.) and have an annual production capacity of 22,000 tons.
In leading up to the construction of the plant, Huvis has signed an agreement to establish a joint venture with Sichuan Polyester Co., Ltd. in December 2001, and established Sichuan-Huvis Chemical Synthetic Fibers Ltd. Huvis owns 95 percent and Sichuan Polyester owns 5 percent of the new company.
Huvis itself is relatively a new company. It was established in November 2000 by merging the polyester business divisions of Samyang Co. and SK Chemicals. For the past 30 years, these two companies have been leading Korea’s polyester industry, especially in the field of synthetic fiber and polymer fiber manufacturing technologies.