Gulf Oil and Gas accountACCOUNT

Air Liquide Expands its Partnership with KMCI in South Korea

Source: www.gulfoilandgas.com 1/25/2018, Location: Asia

Share |
Air Liquide recently signed a new long-term contract with Kumho Mitsui Chemical Inc (KMCI), a major chemical group in South Korea, according to which Air Liquide will increase its supply to this customer of both hydrogen and carbon monoxide at the Yeosu industrial complex. Under the terms of the new agreement, Air Liquide will invest around €100 million1 to build a new, state-of-the-art hydrogen production unit.

The new SMR (Steam Methane Reformer)2 , designed, manufactured, owned and operated by Air Liquide, will increase production capacity in Yeosu of both hydrogen and carbon monoxide by around 50%. The new unit, fully integrated with Air Liquide's existing hydrogen and carbon monoxide supply system, will support the expansion of KMCI's chemicals production at Yeosu.

Yeosu is the largest isocyanate production complex in South Korea and the nation’s second largest industrial park.

Isocyanate is employed in the production of polyurethane foams, rubbers, elastomers and resins which are used in many everyday applications in the sectors of construction, automobiles, home appliances, and other equipment.

Expected to start operations in 2020, the new SMR will be designed and built by Air Liquide’s Engineering and Construction teams using world-class technologies to offer energy efficiency as well as optimal safety and reliability. It enhances Air Liquide’s local production network and strengthens the Group’s leadership position in a key industrial area of South Korea.

François Abrial, member of the Air Liquide Group’s Executive Committee supervising Asia Pacific, said: “We are pleased to strengthen our long-term partnership with KMCI and to enhance our investment into the promising and dynamic Yeosu region. As this new contract illustrates, South Korea represents an attractive investment destination in Asia for Air Liquide due to its integrated industrial base and strong innovation capabilities. We look forward to continuing the sustainable expansion of our operations there, in step with the country’s overall economic development.”

Mergers and Acquisitions News in South Korea >>

United States >>  5/14/2018 - Agilent Technologies Inc. has completed the acquisition of Lausanne, Switzerland-based Genohm, a developer of highly differentiated, on-premise and cl...
Iran >>  5/13/2018 - No message has been received from Total to abandon south pars phase 11 development. Total is decisively negotiating on tender in details that indicate...

United States >>  5/10/2018 - Shell Midstream Partners, L.P. (SHLX) entered into a purchase and sale agreement to acquire Shell's ownership interest in Amberjack Pipeline Company L...
United States >>  5/10/2018 - McDermott International, Inc. has completed its combination with Chicago Bridge & Iron Company N.V. (CB&I), creating a premier, fully integrated provi...

Finland >>  5/9/2018 - Cargotec has signed an agreement with JCE Invest AB to establish a joint venture, Bruks Siwertell Group, specialized in dry bulk handling. The new joi...
United States >>  5/8/2018 - Weatherford International plc announced a Memorandum of Understanding (MOU) with Valiant Artificial Lift Solutions to jointly commercialise, market an...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


South Korea Oil & Gas 1 >>  2 |

More News

 

Oil & Gas Companies in South Korea >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.