Lotte Chemical Titan seeks loan for its proposed upstream plant
The company reportedly stated that once negotiations with the land owner are completed, construction for the new upstream plant will begin and is expected to take around three years.
Through the construction of new upstream plant, the company aims to lower its dependence on ethylene imports and thereby improve their financial results. Lotte Titan’s Indonesian PE plant reportedly sources ethylene from its holding company Lotte Chemical Titan International as well as around 2,000 to 4,000 tons per month from Indonesia’s Chandra Asri.
The company currently has a production capacity of 450,000 tons/year of PE at its Indonesian site.
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