South Korea's Hyundai Cosmo Petrochemical (HCP), a joint venture between Hyundai Oilbank and Japan's Cosmo Oil, shut its aromatics complex no.1 in Daesan for planned maintenance, market sources informed SSESSMENTS.COM. The maintenance started on April 8 and is expected to last for 30-45 days.
HCP's aromatics complex no.1 can produce up to 120,000 tons/year of benzene and 400,000 t/yr of paraxylene. Meanwhile, its aromatics complex no.2 can produce up to 120,000 t/yr of benzene and 800,000 t/yr of paraxylene. HCP has lowered operating rates at both complexes to 80%-85% since October due to squeezed production margins.
