NEWS
South Jeolla Province Signed MOA with BASF
Writer
administ
Posted at
2011-06-22
According to Yonhap News,
South Jeolla Province and Yeosu city signed MOA with the German chemical company BASF to establish production facilities of polyurethan raw materials in the Yeosu National Industrial Complex with the presence of Park Joon-yung, governor of South Jeolla Province, Kim Chung-seok, mayor of Yeosu city, Wayne T. Smith, president of BASF's polyurethan unit, and Cho Jin-uk, president of BASF Korea.
Under the MOA, the chemical company will invest KRW 80 billion by the end of next year to increase the production capacity of MDI up to 250,000 tons. MDI is used as a raw material of polyurethan, insulator, interior materials for automobiles, and spandex.
The investment is projected to boost the local economy and increase the competitiveness of related industries as the production of MDI will increase sharply.
BASF Korea's Yeosu factory, which was designated as a foreign investment area in 2000, has the capacity of producing 190,000 tons of MDI, 160,000 tons of TDI, and 20,000 tons of CCD. It hires 280 local people.
Source Text
Source: Yonhap News (June 14, 2011)
** This is an English translation of a Korean news article.
South Jeolla Province and Yeosu city signed MOA with the German chemical company BASF to establish production facilities of polyurethan raw materials in the Yeosu National Industrial Complex with the presence of Park Joon-yung, governor of South Jeolla Province, Kim Chung-seok, mayor of Yeosu city, Wayne T. Smith, president of BASF's polyurethan unit, and Cho Jin-uk, president of BASF Korea.
Under the MOA, the chemical company will invest KRW 80 billion by the end of next year to increase the production capacity of MDI up to 250,000 tons. MDI is used as a raw material of polyurethan, insulator, interior materials for automobiles, and spandex.
The investment is projected to boost the local economy and increase the competitiveness of related industries as the production of MDI will increase sharply.
BASF Korea's Yeosu factory, which was designated as a foreign investment area in 2000, has the capacity of producing 190,000 tons of MDI, 160,000 tons of TDI, and 20,000 tons of CCD. It hires 280 local people.
Source Text
Source: Yonhap News (June 14, 2011)
** This is an English translation of a Korean news article.