[Courtesy of SKC]
SKC Co., the chemical unit of South Korea's SK Group, unveiled a new investment plan to expand its production base in China that would add new plants for chemical products used for flat panels, semiconductors and vehicles.
SKC Co., a major producer of chemicals and high function films, has a PET film plant in Nantong in Jiangsu Province. On Thursday, it pledged an investment of 80 billion won (71 million US dollars) to build the "Second Specialty Complex" in Nantong.
SKC's board approved a joint venture tentatively named Hong Kong SPC for a $40 million wet chemical plant in Nantong to produce chemicals used in the production of LCD panels and semiconductors. SKC controls 75 percent of the joint venture. The company said in a regulatory filing that construction of the wet chemical plant would begin this year for commercial operation in 2019.
The complex would have a polyurethane plant for cars and construction will begin in January next year for completion in early 2019. SKC also plans to build a windshield film plant in Nantong.
reporter
Lim Chang-won
cwlim34@ajunews.com
