Japan Energy Corp. is expanding its petrochemical products division in response to rising profit margins from higher prices and growing demand in China. It intends to build paraxylene facilities in 2006 at either the Kashima or Chita refinery, with details such as projected capital outlays to be decided during the current fiscal year. The new facilities will increase company-wide paraxylene capacity by 70% to around 1 million tons a year. The firm recently spent about 1 billion yen (US$8.98 million) to add production lines for cyclohexane at the Chita refinery, increasing capacity there 80% to 220,000 tons annually. Through the expansion, Japan Energy plans to raise its annual output capacity for chemicals known as aromatics by 50% to 1.5 million tons a year. The additional output will be exported to China and SE Asia.
Looking for more projects or tenders? This is just the tip of the iceberg! Subscribe today to our Projects & Tenders newsletter.
