This photo provided by SKC Inc. shows its plant in the southern industrial city of Ulsan.
SEOUL, Aug. 27 (Korea Bizwire) — South Korean chemicals maker SKC Inc. said Thursday that it was developing a new pyrolysis oil venture that will extract oil from waste plastics.
After entering into an agreement with the Ulsan city government in December 2020, the company strived to commercialize the business and formed a partnership with Kankyo Energy, a Japanese venture company with related technologies, in June.
SKC announced earlier that it had decided to establish a waste plastic pyrolysis oil pilot production facility at SK picglobal Co.’s Ulsan plant.
SK picglobal is a joint venture between SKC and the Kuwaiti national petrochemical company PIC.
The design of the pyrolysis oil production facility is expected to be completed by the end of this month, with operations launching by the end of the year.
The company will produce pyrolysis oil by using waste plastics collected across the country, and establish a production process optimized for the domestic environment. A commercial-purpose facility will be established at the Ulsan plant by 2023.
The facility will produce more than 35,000 tons of pyrolysis oil per year from more than 50,000 tons of waste plastics. The pyrolysis oil will be used as a boiler fuel for SK PIC Global’s Ulsan plant.
J. S. Shin (js_shin@koreabizwire.com)
