The two companies will invest a total of 120 billion won ($101 million) to build a joint venture plant capable of producing 30,000 tons of isopropyl alcohol per year in the southeastern port city of Ulsan, SK Geo Centric's parent company SK Innovation said. Construction of the equally shared plant would be completed in 2023.
Tokuyama provides its refining technology, and SK Geo Centric is in charge of supplying propylene raw materials, operating a plant and marketing. "We will continue to develop high value-added products for future growth industries and steadily secure eco-friendly technologies to increase the value that customers need," SK Geo Centric's strategy division head Choi Ahn-seop said in a statement on December 29.
Isopropyl alcohol dissolves non-polar compounds and evaporates quickly, leaving nearly zero oil traces. SK Geo Centric predicted that the high-purity Isopropyl alcohol market would grow steadily in the semiconductor industry along with the development of cutting-edge technologies. In South Korea, LG Chem has been the only company that has produced high-purity Isopropyl alcohol.
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