Japan-based Cosmo Oil will make a $600m investment in a South Korean 50:50 joint petrochemical project with Hyundai Oilbank. Hyundai Oilbank will supply land and associated production facilities for the new project.
The benzene, toluene and xylene (BTX) facility will be completed in 2013.
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Cosmo Oil is a major Japanese oil refiner, while Hyundai Oilbank is a South Korea-based oil refiner.
