Taiyo Nippon Sanso has reached agreement with Korean chemical giant SKC, to establish a joint venture company producing air separated gases in Ulsan, Korea.

Though a name for the new company has not yet been decided, it will produce oxygen, nitrogen and argon from an ASU of which the capacity is 60,000 N m3/h of the total. The ASU will be constructed for projected completion at the end of 2008, with gases to be supplied to customers in Ulsan, Busan and the Gyeongnum areas as well as the self consumption by SKC.

Of the huge 70bn Won investment, SKC will put up 80 percent and Taiyo Nippon Sanso will provide 20 percent, while also imparting the technological know-how, plant operation and support for stable operation.