DANBURY, Conn., October 31, 2017 – Praxair, Inc. (NYSE:PX) today announced it has started up three new vacuum pressure swing adsorption (VPSA) plants at the Daesan petrochemical complex located on the west coast of the Korean peninsula. Praxair will start up a fourth VPSA plant in early 2018.
Under a long-term contract, the VPSA plants will supply a combined 750 tons per day of oxygen to Hyundai Oilbank, one of the leading refinery companies in Asia with a capacity of 520,000 barrels per day of crude oil and other feedstock. Hyundai has produced gasoline and propylene in South Korea for more than 50 years. The oxygen is being used in their Residue Fluid Catalytic Cracking (RFCC) process.
Praxair was the first to develop VPSA technology and is the leader in VPSA applications for oxygen production. With more than 250 VPSA plants globally, over the last 25 years the company has built a strong track record of supply reliability and technical expertise.
“Praxair’s long-term expertise building and operating these plants has been rewarded by Hyundai, the leading refinery company in the Daesan petrochemical complex,” said BS Sung, president of Praxair Korea. “These VPSA plants further strengthen our presence in the region and will help drive future growth.”
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2016 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Our products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. For more information about the company, please visit our website at www.praxair.com.