Agreement Signed at the 17th Ulsan Chemistry Day Ceremony
A new integrated pipe rack construction project has been launched at the Ulsan Petrochemical Complex.
On the 22nd at 11 a.m., Ulsan City held the '17th Ulsan Chemistry Day Ceremony' at Lotte Hotel Ulsan, attended by about 100 people including Ulsan Mayor Kim Doo-gyeom, and signed an agreement to build the integrated pipe rack.
The ceremony included commendations for contributors to the chemical industry and the signing ceremony for the integrated pipe rack construction at the Ulsan Petrochemical Complex.
At the commendation ceremony, five people including Lee Chan-soo, CEO of KPX Chemical, received the Minister of Trade, Industry and Energy Commendation, and ten people including Cho Seung-ho, CEO of Ulsan GPS Co., Ltd., received the Ulsan Mayor Commendation.
The signing of the business agreement for the integrated pipe rack construction at the Ulsan Petrochemical Complex involved a total of 30 public institutions and companies, including Ulsan City, Korea Industrial Complex Corporation, Ulsan Urban Corporation, and 27 petrochemical companies.
The participating public institutions and companies will cooperate to strengthen expertise for safe project execution, support permits and approvals related to the integrated pipe rack construction, and provide mutual assistance.
This project is a total budget of 70.9 billion KRW (16.8 billion KRW from the national government, 54.1 billion KRW from private sector contributions) to construct 3.55 km of pipe rack structures above ground within the Ulsan Petrochemical Complex.
Ulsan City has designated Ulsan Urban Corporation as the executing agency, plans to complete the detailed design in the first half of this year, start construction in the second half, and complete the project by 2026.
Above-ground pipe racks refer to 'shelf structures' that jointly transport raw materials, finished products, intermediate products, by-products, steam, and energy through above-ground pipelines within the industrial complex.
The Ulsan Petrochemical Complex was established in 1968 as the first national industrial complex in Korea, but safety concerns have arisen due to aging and overcrowding of underground pipelines.
This project will enable smooth mutual supply of raw materials and products between companies and reduce difficulties during factory expansions. It will greatly contribute not only to securing safety in the industrial complex but also to the competitiveness of the petrochemical industry.
An official from Ulsan City said, "Ulsan Chemistry Day marks the day the petrochemical complex, which laid the foundation for the modernization of the Korean economy, was established," adding, "Holding the integrated pipe rack construction event on this historic day brightens the future of Ulsan’s main industry, the petrochemical sector, in the industrial capital."
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