[Hyundai Oilbank]
SEOUL -- Hyundai Oilbank, a refinery arm of South Korea's top shipbuilding group, has forged a $6.63 billion long-term contract with its sister petrochemical company on the supply of mixed xylene, a basic petrochemical material used to produce ethylbenzene.
The 7.15 trillion won deal with Hyundai Cosmo Petrochemical calls for the supply of more than 400,000 tons of mixed xylene every year until May 2038, Hyundai Heavy Industries Holdings, the group's holding company, said in a regulatory filing on Friday.
Hyundai Cosmo Petrochemical produces petrochemical products such as para-xylene (PX) and mixed xylene (MX). PX is a raw material for producing polyester. MX is extracted from the gasoline fraction.
reporter
Lim Chang-won
cwlim34@ajunews.com
![[INTERVIEW] Peruvian envoy aspires to upgrade bilateral relations with S. Korea through APEC events](https://image.ajunews.com/content/image/2024/02/01/20240201112505987938.png)
