New facility investment for Yongin semiconductor cluster
SK hynix will invest ~KRW 21.6 trillion (USD 15bn) in facility investment for the first fab by end-2030, lifting total first-fab investment to ~KRW 31 trillion (USD 21.5bn). Large-scale cleanroom and ultra-high purity (UHP) utility buildouts typically drive substantial stainless requirements in process gas, chemical delivery, and high-spec piping systems.
Indonesia inaugurates first modular micro-LNG plant
Hengyi’s Project SINAR has commissioned Stage 1 of a major solar initiative (over 50 MWp, 24 MWh storage) supplying ~7% of refinery energy needs, alongside a refinery expansion aimed to raise capacity from 8 to 20 million tpy by early 2029. The refinery expansion element is the main stainless driver (process units, piping, tanks, upgrades).
Halliburton awarded a geothermal project
Halliburton has won a multiyear contract from KS Orka Renewables to support geothermal well construction for SMGP and SGI, providing directional drilling, cementing, drilling fluids, and bits. This is primarily a services award; stainless demand is typically indirect (well completion hardware and certain corrosion-resistant components) versus large volume materials supply.
PTTEP announces FID of its first greenfield development
PTTEP has reached Final Investment Decision (FID) for the SK405B greenfield offshore gas development in Malaysia, incorporating zero routine flaring and advanced remote-operated systems, marking a major upstream milestone.
Launching of FSO PTSC LDV at the Nantong Strongwind Shipyard
The FSO PTSC LDV has been launched at Nantong Strongwind Shipyard, featuring 500,000 barrels storage capacity and dual-fuel systems, with first operations expected in Q4 2026.