Praxair signs supply contract with Hyundai Oilbank

Praxair signs supply contract with Hyundai Oilbank

7:01 AM, 27th September 2016
Praxair signs supply contract with Hyundai Oilbank

DANBURY, US: Praxair Inc has signed a long-term contract to supply industrial gases to Hyundai Oilbank (Hyundai), a leading oil refining company in South Korea. Hyundai has more than a 50-year history producing gasoline and propylene in South Korea, and is capable of processing 390,000 barrels per day of crude oil and other feedstock.

Praxair will construct, own and operate four vacuum pressure swing adsorption (VPSA) plants that will supply a combined 750 tonnes per day (TPD) of oxygen to Hyundai, which is situated at Daesan petrochemical complex on the west coast of the Korean peninsula. The VPSAs are expected to start up in 2017.

Praxair’s small on-site plants have been developed through more than 50 years of research, know-how and field-tested operating experience. The company was the first to develop VPSA technology and is the leader in VPSA applications for oxygen production. Praxair has installed approximately 20,000 TPD of VPSA capacity globally and currently has over $100 million committed to small on-site plants under construction around the world with scheduled start up dates in the next 12 to 18 months.

“Praxair will work closely with Hyundai Oilbank, supporting the company’s growth in the oil refinery industry. This will also expand our presence in the region and lays the groundwork for our continued growth,” said S B Seo, president of Praxair Korea.

© Worldofchemicals News



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