Lotte Chemical plans to expand operations in Malaysia
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, South Korea’s Lotte Chemical is planning to invest $450 million to expand its operations in Johor, Malaysia following a previous investment of $2 billion on its Tanjung Langsat and Pasir Gudang plants.
The investment aims to increase the capacities of the plants from 3 million tons/year to 3.5 million tons/year, which indicates an expansion by 20%.
The company said that Malaysia attracts South Korean investors with its geopolitics, stability and zero natural disaster risks, which make the country a good choice for foreign companies to enter into Asian market.
The reports also revealed that Malaysia said they need South Korea’s expertise in automation and robotic industries to improve their productivity and they highly encourage more partnerhips and joint ventures between companies from two countries.
The investment aims to increase the capacities of the plants from 3 million tons/year to 3.5 million tons/year, which indicates an expansion by 20%.
The company said that Malaysia attracts South Korean investors with its geopolitics, stability and zero natural disaster risks, which make the country a good choice for foreign companies to enter into Asian market.
The reports also revealed that Malaysia said they need South Korea’s expertise in automation and robotic industries to improve their productivity and they highly encourage more partnerhips and joint ventures between companies from two countries.
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