# P&O Chemical to invest $63.5M in petroleum pitch plant in South Korea

P&O Chemical, a joint venture between Posco Chemical and OCI, will invest 74.5 billion won to build a 15,000 metric ton per year petroleum pitch production facility in South Korea, with production start targeted for 2024.

- Type: Investment
- Announced: 2021-08-27
- Where: South Korea, South Korea
- Value: $63.5M (74.5B KRW)
- Starts operating: 2024
- Status: announced
- Capacity: 15,000 metric tons per year
- Products: petroleum pitch for lithium-ion battery anodes
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [P&O Chemical](https://endata.com/companies/49413.md)
- [OCI Co.](https://endata.com/companies/29854.md) (investor)
- [POSCO Chemical](https://endata.com/companies/44695.md) (investor)

## Sources

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/english/10006798), 2021-08-27: "P&O Chemical, a joint venture between Posco Chemical and OCI, said on Thursday that it will invest 74.5 billion won ($63.47 million) to produce 15,000 metric tons of petroleum pitch with a high softening point annually at home."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.